USD/SEK Down 97 Pips On 4 Hour Chart, Moves Up For the 3rd Consecutive Day; Crosses 20 Day Moving Average

USD/SEK 4 Hour Price Update

Updated August 24, 2020 01:10 PM GMT (09:10 AM EST)

USD/SEK is down 97 pips (0.11%) since the last 4 hour candle (opening the current 4 hour candle near 8.7513), marking the 2nd consecutive candle a decrease has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 29th the last 4 hour candle in terms of percentage price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is up 840 pips (0.97%) since the previous day (opening today near 8.78755), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 2nd the previous day in terms of percentage price change. Here is a price chart of USD/SEK.

USD/SEK

USD/SEK Technical Analysis

Notably, USD/SEK crossed above its 20 day moving average yesterday. 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. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram