EUR/SEK Up 79 Pips in Last Hour, Came Into Today Up For the 3rd Day In A Row; Breaks Above 100 Day Average

Hourly Update

(Last Updated June 8, 2022 1:41 GMT)

Currently, EURSEK’s rate is up 79 pips (0.08%) from the hour prior. EURSEK has seen its price go up 4 out of the past 5 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 50 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 up 51 pips (0.05%) since yesterday (opening today near 10.47531), marking the 3rd day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, EURSEK ended up ranking 27th for the day in terms of price change. Here is a price chart of EURSEK.

EURSEK

EURSEK Technical Analysis

First things first: EURSEK crossed above its 100 day moving average yesterday. 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 100 day average, which is 4.5 pips away. Or to simplify this another way, note that out of the past 14 days EURSEK’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.