EURSEK Up 22 Pips in Last Hour, Came Into Today Down For the 2nd Straight Day; Nears 50 and 100 Day Moving Averages

Hourly Update

(Last Updated April 15, 2021 3:19 GMT)

Currently, EURSEK’s rate is up 22 pips (0.02%) from the hour prior. EURSEK has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURSEK is down 276 pips (0.27%) since yesterday (opening today near 10.1419), marking the 2nd straight day it has gone down. Relative to other instruments in the Forex asset class, EURSEK ranked 28th yesterday in terms of percentage price change. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

Notably, EURSEK is now close to its 20, 50, 100 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 50 day average, which is 3.8 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 19 out of the past 30 days.