EURSEK Down 103 Pips On Hourly Chart, Nears 20, 50, 100 and 200 Day Moving Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated September 13, 2021 11:18 GMT)

At the time of this writing, EURSEK’s rate is down -103 pips (-0.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURSEK has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 50 hour moving averages have been crossed, with price now being below them. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURSEK entered today at 10.1946, up 158 pips (0.16%) from the day prior. Relative to other instruments in the Forex asset class, EURSEK ranked 7th the day prior in terms of percentage price change. Below is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Notably, the current price of EURSEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days. Also, candlestick traders! Note we see doji pattern appearing here as well.