EUR/SEK Up 115 Pips Over Past 4 Hours, in a Downtrend Over Past 14 Days; Doji and Pin Bar Patterns Appearing on Chart

EUR/SEK 4 Hour Price Update

Updated June 04, 2020 01:13 AM GMT (09:13 PM EST)

EUR/SEK is up 115 pips (0.11%) since the previous 4 hours (opening the current 4 hour candle near 10.4365), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/SEK ranked 3rd the previous 4 hours in terms of percentage price change.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK is up 78 pips (0.07%) since the day prior (opening today near 10.43579), marking the 3rd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/SEK ranked 17th the day prior in terms of percentage price change. Here is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

The first thing we should note is that EUR/SEK is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 922.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 16 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.