EUR/SEK Up 544 Pips; Breaks Above 20, 50 and 100 Day Averages
The closest is the 100 day average, which is 146.1 pips away.
EURSEK
(Last Updated January 26, 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 |
|---|---|---|---|---|---|---|---|
| Sweden PPI MoM | Dec 2020 | Swedish Krona | SEK | 2021-01-26 | 08:30 GMT | -0.1% | 1.2% |
| Sweden PPI YoY | Dec 2020 | Swedish Krona | SEK | 2021-01-26 | 08:30 GMT | -5.4% | -2.7% |
| Sweden Unemployment Rate | Dec 2020 | Swedish Krona | SEK | 2021-01-28 | 08:30 GMT | ||
| Euro Area Economic Sentiment | Jan 2021 | Euro | EUR | 2021-01-28 | 10:00 GMT | 89.5 | |
| Euro Area Consumer Confidence Final | Jan 2021 | Euro | EUR | 2021-01-28 | 10:00 GMT | -15.5 |
The Trend
If we observe the 90 and 30 day timeframes, we see a downtrend in place for EURSEK.
EURSEK Moving Averages
EURSEK’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
Regarding EURSEK’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPUSD. Over the past 14 days, however, USDSEK is the asset most correlated to EURSEK. On the flip side, the asset least correlated with EURSEK over the past week has been CADCHF, but if we observe the prior two weeks, ZARJPY has been the asset least correlated with EURSEK. The chart below illustrates EURSEK against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, EURSEK’s rate is down -400 pips (-0.4%) from the week prior. Moreover, note that the weekly chart shows that EURSEK has seen 2 straight down weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURSEK. Given that we see downtrend on the 20 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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. EURSEK’s weekly price action over the past 52 weeks can be seen via the chart below.
EURSEK: The Monthly View
Clearest trend on the monthly is apparent at the 24 month timeframe.
EUR/SEK Down 267 Pips, Breaks Below 20 and 50 Day Averages; in an Uptrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
EUR/SEK Makes Big Move Relative to Past Two Months, Down 377 Pips; Crosses 100 Day Moving Average
The closest is the 20 day average, which is 171.6 pips away.
EUR/SEK Up 211 Pips, Breaks Above 100 Day Average; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, eur/sek ranked 18th yesterday in terms of percentage price change.
EUR/SEK Up 289 Pips, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, eur/sek ranked 17th yesterday in terms of percentage price change.
EUR/SEK Up 289 Pips, Crosses 100 Day Moving Average; in an Uptrend Over Past 14 Days
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 11.25% from the day prior, and up 10.34% from the same day the week before.
EUR/SEK Heads Up For the 3rd Day In A Row, in an Uptrend Over Past 14 Days; Eyes 20, 100 and 200 Day 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 30 Pips, is Inching Close to 20, 50 and 100 Day Averages; Doji and Pin Bar Patterns Appearing on Chart
The closest is the 20 day average, which is 47.8 pips away.
EUR/SEK 4 Day Down Streak Snapped; Crosses 50 Day Moving Average
The closest is the 20 day average, which is 71.2 pips away.
EUR/SEK 3 Day Down Streak Snapped, Crosses 50 Day Moving Average; in a Downtrend Over Past 14 Days
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.