USD/SEK Down 472 Pips Over Past 4 Hours, 2 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated May 20, 2020 05:05 PM GMT (01:05 PM EST)

USD/SEK is down 472 pips (0.49%) since the previous 4 hours (opening the current 4 hour candle near 9.582), marking the 5th candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, USD/SEK ended up ranking 36th for the four-hour candle in terms of price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/SEK continues; to start today, it came in at a price of 9.68484, up 141 pips (0.15%) since the previous day. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 17th for the day in terms of price change. Here is a price chart of USD/SEK.

USD/SEK Technical Analysis

The first thing we should note is that USD/SEK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 105.6 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days USD/SEK’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.