(Last Updated March 31, 2021 0:20 GMT)
At the moment, EURSEK’s rate is down -86 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20 hour moving average has been crossed, so that price is now turning below it. 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)
The back and forth price flow continues for EURSEK, which started today off at 10.2242, up 437 pips 0.43% from the day prior. Out of the 39 instruments in the Forex asset class, EURSEK ended up ranking 14th for the day in terms of price change. Here is a price chart of EURSEK.
EURSEK Technical Analysis
Notably, EURSEK is now close to its 20, 50, 100 and 200 day averages, located at 10.1527, 10.1152, 10.1379 and 10.2578 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 335.9 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 11 out of the past 14 days.