EUR/SEK Up 35 Pips Over Past Hour, Entered Today Up For the 10th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated June 17, 2022 1:39 GMT)

Currently, EURSEK’s rate is up 35 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURSEK. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURSEK is up 660 pips (0.62%) since yesterday (opening today near 10.6964), marking the 10th day in a row an upward move has occurred. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 14th in terms of percentage change since yesterday. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Coming into today EURSEK is now close to its 20, 50 and 100 day averages, located at 10.5281, 10.4569 and 10.4863 respectively, and thus may be at a key juncture along those timeframes. 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 1683.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 10 out of the past 10 days.