EUR/SEK Up 229 Pips in Last 4 Hours, 3 Day Down Streak Ended; is Inching Close to 20 Day Average

EUR/SEK 4 Hour Price Update

Updated August 06, 2020 09:08 AM GMT (05:08 AM EST)

EUR/SEK is up 229 pips (0.22%) since the previous 4 hours (opening the current 4 hour candle near 10.3002), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 10th in terms of percentage change since the previous 4 hours.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of EUR/SEK’s 3 day down streak; price ended the day prior up 16 pips (0.02%) to finish the day at a rate of 10.27639. Out of the 40 instruments in the Forex asset class, EUR/SEK ended up ranking 23rd for the day in terms of price change. Here is a price chart of EUR/SEK.

EUR/SEK

EUR/SEK Technical Analysis

The first thing we should note is that EUR/SEK is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for EUR/SEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EUR/SEK’s price has gone down 16 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.