EUR/SEK Up 27 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
EURSEK
(Last Updated July 2, 2020)
Welcome to the news page for EURSEK (EURSEK). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
As for trends on EURSEK, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 and 14 day timeframes. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
EURSEK Moving Averages
The moving averages on EURSEK summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bearish, suggesting the trend is generally downward, aside from a spike about 3 weeks prior.
The chart below illustrates.
As for assets in the Forex asset class EURSEK has been correlated to over the past week, it has been most correlated with GBPNZD. Over the past 14 days, however, the asset showing the strongest correlation to EURSEK is USDSEK. Alternatively, EURNOK has been the asset least correlated with EURSEK — but if we observe the prior two weeks, USDCNH has been the asset least correlated with EURSEK. See the chart below to observe the recent price action in EURSEK versus those of assets it hasn’t been well correlated with.
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EUR/SEK Down 13 Pips On 4 Hour Chart, Eyes 20 and 50 Day Averages; Pin Bar Pattern Appearing on Chart
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.
EUR/SEK Up 41 Pips in Last 4 Hours, 4 Day Up Streak Broken; Breaks Below 20 Day Average
The closest is the 20 day average, which is 240.3 pips away.
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
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.
EUR/SEK Up 96 Pips in Last 4 Hours, Came Into Today Up For the 4th Day In A Row; in a Downtrend Over Past 90 Days
The closest is the 20 day average, which is 12.7 pips away.
EUR/SEK Up 19 Pips On 4 Hour Chart, Moves Up For the 2nd Day In A Row; Nears 20 Day Moving Average
The closest is the 20 day average, which is 147 pips away.
EUR/SEK Up 69 Pips Over Past 4 Hours, Outperforms All Forex; But Still in a Downtrend Over Past 90 Days
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
EUR/SEK Down 297 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; Breaks Above 50 Day Average
The closest is the 50 day average, which is 9.4 pips away.
EUR/SEK Down 78 Pips in Last 4 Hours, 2 Day Down Streak Broken; Price Base in Formation Over Past 30 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.
EUR/SEK Up 62 Pips in Last 4 Hours, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average
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.