EUR/SEK Up 88 Pips On Hourly Chart, Entered Today Up For the 2nd Straight Day; Price Base in Formation Over Past 90 Days

Hourly Update

(Last Updated June 23, 2022 1:40 GMT)

At the moment, EURSEK’s rate is up 88 pips (0.08%) from the hour prior. The hourly chart shows that EURSEK has seen 2 straight up hours. 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 326 pips (0.31%) since yesterday (opening today near 10.6697), marking the 2nd straight day an increase has occurred. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 12th in terms of percentage change since yesterday. Here is a 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. 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 1109.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 12 out of the past 14 days.