USD/SEK Up 21 Pips On 4 Hour Chart, Moves Down For the 3rd Day In A Row; in a Downtrend Over Past 90 Days

USD/SEK 4 Hour Price Update

Updated July 02, 2020 01:18 AM GMT (09:18 PM EST)

USD/SEK is up 21 pips (0.02%) since the last 4 hour candle (opening the current 4 hour candle near 9.308), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 10th in terms of percentage change since the last 4 hour candle.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is down 14 pips (0.02%) since the previous day (opening today near 9.30259), marking the 3rd day in a row a decrease has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 27th the previous day in terms of percentage price change. Below 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 and 50 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 20 day average, which is 265.8 pips away. 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 down 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.