USD/SEK Down 142 Pips Over Past 4 Hours, Moves Up For the 2nd Day In A Row; Eyes 20 Day Average
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USDSEK
(Last Updated July 2, 2020)
Welcome to the news page for USDSEK (USDSEK). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On USDSEK, there is currently a downtrend on the 90 and 14 day timeframes.
USDSEK Moving Averages
The moving averages on USDSEK summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bearish, implying a downward trend, aside from a spike about 3 weeks prior.
Below is a chart showing USDSEK’s price with its moving averages.
Regarding USDSEK’s correlations over the past 7 days, it has been most correlated with GBPNZD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDSEK is EURSEK. Alternatively, the asset least correlated with USDSEK over the past week has been EURUSD, but if we observe the prior two weeks, EURGBP has been the asset least correlated with USDSEK. The chart below illustrates USDSEK against its least correlated assets.
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USD/SEK Up 7 Pips On 4 Hour Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 10 days usd/sek’s price has gone up 6 them.
USD/SEK Up 50 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; 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.
USD/SEK Up 21 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 90 Days
For additional context, note that price has gone down 17 out of the past 30 days.
USD/SEK Up 117 Pips On 4 Hour Chart, 3 Day Up Streak Ended; Price Base in Formation Over Past 30 Days
Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
USD/SEK Up 15 Pips On 4 Hour Chart, Price Base in Formation Over Past 14 Days; Nears 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USD/SEK Up 204 Pips On 4 Hour Chart, Price Base in Formation 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.
USD/SEK Up 30 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, usd/sek ranked 4th the day prior in terms of percentage price change.
USD/SEK Up 77 Pips On 4 Hour Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 30 Days
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USD/SEK Up 26 Pips Over Past 4 Hours; 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.