USDSEK Down 214 Pips Over Past Hour; Moves Down For the 4th Day In A Row
This is the 3rd consecutive hour usdsek has seen its price head down.
USDSEK
(Last Updated March 2, 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 Redbook YoY | 27/Feb 2021 | US Dollar | USD | 2021-03-02 | 13:55 GMT | ||
| United States Redbook MoM | 27/Feb 2021 | US Dollar | USD | 2021-03-02 | 13:55 GMT | ||
| United States ISM New York Index | Feb 2021 | US Dollar | USD | 2021-03-02 | 14:45 GMT | ||
| United States IBD/TIPP Economic Optimism | Mar 2021 | US Dollar | USD | 2021-03-02 | 15:00 GMT | ||
| United States 119-Day Bill Auction | NA | US Dollar | USD | 2021-03-02 | 16:30 GMT |
The Trend
On USDSEK, we don’t see a clear trend until the 90 day basis, where we see a clear downtrend.
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.
Below is a chart showing USDSEK’s price with its moving averages.
In terms of correlations over the past week for USDSEK, it has demonstrated the strongest correlation with EURSEK. USDSEK has been most correlated with EURSEK over the past 14 days also, so this may be a structural correlation in the market. On the flip side, the asset least correlated with USDSEK over the past week has been GBPCAD, but if we observe the prior two weeks, CHFJPY 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 -112 pips (-0.13%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. As for the trend on the weekly timeframe, we see the clearest trend 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 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 USDSEK’s price action over the past year.
USDSEK: The Monthly View
Clearest trend on the monthly is apparent at the 60 month timeframe.
USDSEK Down 74 Pips Over Past Hour, Came Into Today Down For the 3rd Consecutive Day; in a Downtrend Over Past 30 Days
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDSEK Up 16 Pips On Hourly Chart; Moves Down For the 2nd Consecutive Day
Volatility for usdsek has been contracting over the past two weeks relative to volatility over the past month.
USDSEK Up 10 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart
Of note is that the 100 hour changed directions on usdsek; it is now pointing up.
USD/SEK Down 14 Pips in Last Hour; 2 Day Up Streak Ended
Volatility for usdsek has been contracting over the past two weeks relative to volatility over the past month.
USDSEK Down 46 Pips in Last Hour, 2 Day Up Streak Broken; in a Downtrend Over Past 30 Days
Compared to its peers in the forex, usdsek gave its buyers a return that ranked 29th in terms of percentage change since the previous day.
USDSEK Down 3 Pips in Last Hour; Came Into Today Up For the 2nd Day In A Row
Volatility for usdsek has been contracting over the past two weeks relative to volatility over the past month.
USDSEK Down 201 Pips Over Past Hour; in a Downtrend Over Past 30 Days
From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
USD/SEK Up 12 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; in a Downtrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
USD/SEK Down 2 Pips Over Past Hour, Entered Today Down For the 2nd Straight Day; in a Downtrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.