EUR/SEK Up 35 Pips Over Past 4 Hours, Entered Today Up For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

EUR/SEK 4 Hour Price Update

Updated July 02, 2020 01:16 AM GMT (09:16 PM EST)

EUR/SEK is up 35 pips (0.03%) since the last 4 hour candle (opening the current 4 hour candle near 10.4735), marking the 2nd candle in a row an increase has occurred. Compared to its peers in the Forex, EUR/SEK gave its buyers a return that ranked 8th in terms of percentage change since the last 4 hour candle.

EUR/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/SEK is up 6 pips (0.01%) since the previous day (opening today near 10.46879), marking the 2nd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/SEK ended up ranking 18th for the day in terms of price change. Here is a price chart of EUR/SEK.

EUR/SEK Technical Analysis

The first thing we should note is that EUR/SEK is now close to its 20, 50, 100 and 200 day averages, located at 10.4963, 10.5129, 10.7002 and 10.6212 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 20 day average, which is 275.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.