(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:
| 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 |
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.
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.
.
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.
Monthly trend: strongest on the 60 month timeframe.
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.
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
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.
And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well.
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.
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.
Volatility for eursek has been contracting over the past two weeks relative to volatility over the past month.
This move is a reversal from the hour prior, which saw price move down.
Compared to its peers in the forex, eursek gave its buyers a return that ranked 20th in terms of percentage change since the previous day.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.