USD/SEK Up 77 Pips On 4 Hour Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 30 Days

USD/SEK 4 Hour Price Update

Updated June 24, 2020 01:12 PM GMT (09:12 AM EST)

USD/SEK is up 77 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 9.3204), marking the 2nd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 12th 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 entered today at 9.28792, up 246 pips (0.27%) from yesterday. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 3rd for the day in terms of 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 9.2917 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 38 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days USD/SEK’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDSEK, with 4 buy signals on our radar and 0 sell signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

USDSEK Buy opportunity 📈 use risk management ⚠️