USDSEK Up 19 Pips Over Past Hour, Underperforms All Forex; Moves Down For the 2nd Straight Day
It may be worth observing that usdsek was the worst performer of the 40 members in the forex asset class over the past day.
USDSEK
(Last Updated October 27, 2020)
Hello! This is the news page for USDSEK. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for USDSEK.
USDSEK Moving Averages
USDSEK’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 50) — are bearish, implying a downward trend, save for a jump that occurred about 2 months ago.
Below is a chart showing USDSEK’s price with its moving averages.
Regarding USDSEK’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURUSD. If we zoom out to a two week basis, though, USDCHF is the asset most correlated to USDSEK. On the flip side, USDTRY has been the asset least correlated with USDSEK — but over the past two weeks, GBPCHF has been the asset least correlated with USDSEK. See the chart below to observe the recent price action in USDSEK versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the time of this writing, USDSEK’s rate is down 0.0003 (0%) from the week prior. USDSEK has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDSEK. 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. USDSEK’s weekly price action over the past 52 weeks can be seen via the chart below.
USDSEK: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
USDSEK Down 111 Pips Over Past Hour, 5 Day Up Streak Ended; Crosses 100 Day Moving Average
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.
USDSEK Down 32 Pips Over Past Hour, Moves Up For the 4th Consecutive Day; Crosses 100 Day Moving Average
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.
USDSEK Down 93 Pips in Last Hour; Moves Up For the 3rd Straight Day
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
USDSEK Up 19 Pips in Last Hour, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 90 Days
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDSEK Down 56 Pips Over Past Hour, Entered Today Up For the 2nd Straight Day; in a Downtrend Over Past 90 Days
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 3rd in terms of percentage change since yesterday.
USDSEK Up 52 Pips in Last Hour, Makes Big Move Relative to Past Month; Crosses 50 Day Moving Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
USDSEK Up 36 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; is Inching Close to 20 and 50 Day Averages
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up.
USDSEK Down 37 Pips On Hourly Chart, 2 Day Up Streak Snapped; in a Downtrend Over Past 90 Days
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
USDSEK Down 92 Pips in Last Hour, 2 Day Down Streak Broken; Eyes 50 Day Average
Of note is that the 200 hour changed directions on usdsek; it is now pointing down.