USDSEK Down 92 Pips Over Past Hour; Nears 100 Day Moving Average
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 31st in terms of percentage change since yesterday.
USDSEK
(Last Updated April 15, 2021)
Welcome to the news page for USDSEK (USDSEK). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for USDSEK
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
The Trend
A trend/countertrend situation exists on USDSEK, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.
USDSEK Moving Averages
USDSEK’s moving averages tell a multi-facted story about its trend. 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.
The chart below illustrates.
In terms of correlations over the past week for USDSEK, it has been most correlated with EURGBP. If we zoom out to a two week basis, though, GBPNZD is the asset most correlated to USDSEK. On the flip side, the asset least correlated with USDSEK over the past week has been EURNOK, but if we observe the prior two weeks, USDHKD has been the asset least correlated with USDSEK. The chart below illustrates USDSEK against its least correlated assets.
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The View From the Weekly Timeframe
Currently, USDSEK’s rate is down -698 pips (-0.82%) from the week prior. Moreover, note that the weekly chart shows that USDSEK has seen 2 straight down 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. USDSEK’s weekly price action over the past 52 weeks can be seen via the chart below.
USDSEK: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
USDSEK Up 24 Pips in Last Hour, in a Downtrend Over Past 14 Days; is Inching Close to 100 Day Average
This is a reversal of the price action on the previous hour, in which price moved down.
USDSEK Down 2 Pips Over Past Hour, 3 Day Down Streak Snapped; Eyes 50 Day 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 down.
USDSEK Up 42 Pips Over Past Hour, Entered Today Down For the 3rd Straight Day; Eyes 100 Day Average
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
USDSEK Down 66 Pips Over Past Hour, Came Into Today Down For the 2nd Straight Day; in an Uptrend Over Past 30 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
USDSEK Up 56 Pips in Last Hour, 2 Day Up Streak Ended; in an Uptrend Over Past 30 Days
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 38th in terms of percentage change since yesterday.
USDSEK Up 101 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; Nears 20 Day Moving Average
Price action traders may also wish to note that we see a doji candlestick pattern on usdsek.
USDSEK Down 67 Pips On Hourly Chart, 2 Day Up Streak Snapped; in an Uptrend Over Past 30 Days
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 33rd in terms of percentage change since the day prior.
USDSEK Up 83 Pips On Hourly Chart; 3 Day Down Streak Snapped
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USD/SEK Down 60 Pips in Last Hour, Came Into Today Up For the 4th Straight Day; in an Uptrend Over Past 14 Days
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.