USD/SEK 3 Day Up Streak Snapped, But Still in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

USD/SEK Price Recap

After 3 up days, USD/SEK snaps its streak, falling 976 pips (-1%) over the past day to close at an exchange rate of 9.7074. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 0.58% from the day prior, and up 31.02% from the same day the week before. Those trading within the Forex asset class should know that USD/SEK was the worst performer in the class. Let’s take a look at price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. The closest is the 20 day average, which is 459.8 pips away. Volatility for USD/SEK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USD/SEK’s price has gone up 6 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Probably it will start to sell from next week monday since DXY(base currency) almost done going up