EURSEK Down 57 Pips On Hourly Chart; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated February 22, 2021 23:19 GMT)

At the time of this writing, EURSEK’s rate is down -57 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 and 10 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 20, 50, 100 and 200 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)

The back and forth price flow continues for EURSEK, which started today off at 10.0163, down 286 pips 0.28% from the day prior. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 31st in terms of percentage change since the day prior. Let’s take a look at price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

Coming into today EURSEK is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURSEK’s price has gone down 7 them.