EUR/SEK Up 57 Pips in Last Hour, Moves Down For the 4th Day In A Row; Eyes 50 Day Average

Hourly Update

(Last Updated November 2, 2022 1:40 GMT)

At the time of this writing, EURSEK’s rate is up 57 pips (0.05%) from the hour prior. This is the 2nd hour in a row EURSEK has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 down 236 pips (0.22%) since yesterday (opening today near 10.8785), marking the 4th day in a row a decline has happened. Relative to other instruments in the Forex asset class, EURSEK ranked 25th yesterday in terms of percentage price change. 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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 9 out of the past 14 days.