USD/SEK 4 Hour Price Update
Updated May 15, 2020 01:05 PM GMT (09:05 AM EST)
The back and forth price flow continues for USD/SEK, which started the current 4 hour candle off at 9.8769, up 720 pips 0.73% from the previous 4 hours. Relative to other instruments in the Forex asset class, USD/SEK ranked 3rd the previous 4 hours in terms of percentage price change.
USD/SEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/SEK is down 99 pips (0.1%) since the day prior (opening today near 9.79232), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 39th in terms of percentage change since the day prior. The price chart of USD/SEK below illustrates.
USD/SEK Technical Analysis
Notably, USD/SEK is now close to its 20, 50, 100 and 200 day averages, located at 9.8571, 9.9762, 9.8055 and 9.6964 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 131.5 pips away. Volatility for USD/SEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.