EURSEK Up 27 Pips On Hourly Chart; Breaks Below 20 Day Average
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.
EURSEK
(Last Updated March 16, 2021)
Hello! This is the news page for EURSEK. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for EURSEK
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area ECB Enria Speech | NA | Euro | EUR | 2021-03-16 | 11:00 GMT | ||
| Euro Area Inflation Rate YoY Final | Feb 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | 0.9% | |
| Euro Area Core Inflation Rate YoY Final | Feb 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | 1.1% | |
| Euro Area Construction Output YoY | Jan 2021 | Euro | EUR | 2021-03-17 | 10:00 GMT | ||
| European Union New Car Registrations YoY | Feb 2021 | Euro | EUR | 2021-03-18 | 07:00 GMT |
The Trend
As for trends on EURSEK, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
EURSEK Moving Averages
The moving averages on EURSEK summarize its price action in an interesting way. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
The chart below illustrates.
As for assets in the Forex asset class EURSEK has been correlated to over the past week, it has demonstrated the strongest correlation with CHFJPY. Over the past 14 days, however, AUDUSD is the asset most correlated to EURSEK. Alternatively, USDJPY has been the asset least correlated with EURSEK — but if we observe the prior two weeks, the asset least correlated with EURSEK has been EURGBP. The chart below illustrates EURSEK against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, EURSEK’s rate is down -464 pips (-0.46%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as EURSEK has now gone down 4 of the past 5 weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows EURSEK’s price action over the past year.
EURSEK: The Monthly View
Monthly trend: strongest on the 60 month timeframe.
EURSEK Down 9 Pips On Hourly Chart, Breaks Below 20 Day Average; in an Uptrend Over Past 30 Days
Price action traders may also wish to note that we see a doji candlestick pattern on eursek.
EURSEK Up 30 Pips in Last Hour, 2 Day Down Streak Snapped; Crosses 20 Day Moving Average
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURSEK Up 50 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; is Inching Close to 20, 50 and 100 Day Averages
The closest is the 100 day average, which is 165.2 pips away.
EURSEK Down 27 Pips in Last Hour; Crosses 20 Day Moving Average
Compared to its peers in the forex, eursek gave its buyers a return that ranked 37th in terms of percentage change since the day prior.
EURSEK Up 41 Pips in Last Hour, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days
Of note is that the 100 hour changed directions on eursek; it is now pointing up.
EURSEK Down 9 Pips On Hourly Chart, Breaks Below 200 Day Average; in an Uptrend Over Past 14 Days
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.
EURSEK Up 36 Pips in Last Hour, Price Base in Formation Over Past 90 Days; is Inching Close to 200 Day Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
EURSEK Down 19 Pips Over Past Hour, 4 Day Up Streak Ended; in an Uptrend Over Past 14 Days
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.
EURSEK Down 13 Pips Over Past Hour, Moves Up For the 4th Straight Day; in an Uptrend Over Past 14 Days
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.