USD/SEK Down 47 Pips On 4 Hour Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated July 20, 2020 01:08 PM GMT (09:08 AM EST)

USD/SEK is down 47 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 8.9972), marking the 2nd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, USD/SEK ended up ranking 19th for the four-hour candle in terms of price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK entered today at 9.0281, up 42 pips (0.05%) from the previous day. Relative to other instruments in the Forex asset class, USD/SEK ranked 16th the previous day in terms of percentage price change. Below is a price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, USD/SEK is now close to its 20 day averages, located at 9.2138 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 20 day average, which is 1856.7 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days USD/SEK’s price has gone up 16 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!