USD/SEK Up 30 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated June 25, 2020 01:10 PM GMT (09:10 AM EST)

USD/SEK entered the current 4 hour candle at 9.3609, up 30 pips (0.03%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/SEK ended up ranking 14th 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 is up 197 pips (0.21%) since the day prior (opening today near 9.3751), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 4th the day prior in terms of percentage price change. The price chart of USD/SEK below illustrates.

USD/SEK Technical Analysis

The first thing we should note is that USD/SEK is now close to its 20 and 50 day averages, located at 9.2975 and 9.5357 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 775.8 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!