EURSEK Down 5 Pips Over Past Hour, 2 Day Down Streak Ended; Eyes 20, 100 and 200 Day Averages
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
EURSEK
(Last Updated April 15, 2021)
Welcome to the news page for EURSEK (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 Eurogroup Video Conference | NA | Euro | EUR | 2021-04-16 | 08:00 GMT | ||
| Euro Area Core Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 0.9% | |
| Euro Area Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 1.3% | |
| Euro Area Balance of Trade | Feb 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for EURSEK.
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. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.
Below is a chart showing EURSEK’s price with its moving averages.
Regarding EURSEK’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURGBP. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURSEK is GBPAUD. On the flip side, GBPUSD has been the asset least correlated with EURSEK — but if we observe the prior two weeks, USDTRY 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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The View From the Weekly Timeframe
At the moment, EURSEK’s rate is down -143 pips (-0.14%) from the week prior. Moreover, note that the weekly chart shows that EURSEK has seen 2 straight down weeks. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. 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
Clearest trend on the monthly is apparent at the 60 month timeframe.
EUR/SEK Down 2 Pips Over Past Hour, Moves Down For the 2nd Consecutive Day; in a Downtrend Over Past 30 Days
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EUR/SEK Down 4 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Crosses 20 and 100 Day Moving Averages
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 28 Pips in Last Hour, Breaks Above 20 Day Average; Price Base in Formation 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 Down 9 Pips Over Past Hour, Breaks Above 20 Day Average; Price Base in Formation Over Past 14 Days
Volatility for eursek has been contracting over the past two weeks relative to volatility over the past month.
EURSEK Up 28 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; 2 Day Up Streak Snapped
Compared to its peers in the forex, eursek gave its buyers a return that ranked 20th in terms of percentage change since yesterday.
EURSEK Down 0 Pips Over Past Hour, Eyes 20, 100 and 200 Day Averages; Pin Bar Pattern Appearing on Chart
This move is a reversal from the hour prior, which saw price move up.
EURSEK Down 4 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Crosses 200 Day Moving Average
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.
EURSEK Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Doji Pattern Appearing on Chart
Compared to its peers in the forex, eursek gave its buyers a return that ranked 23rd in terms of percentage change since the day prior.
EURSEK Down 4 Pips in Last Hour; Breaks Below 100 Day Average
Compared to its peers in the forex, eursek gave its buyers a return that ranked 36th in terms of percentage change since the day prior.