(Last Updated April 5, 2021 2:15 GMT)
At the moment, USDSEK’s rate is up 64 pips (0.07%) from the hour prior. The hourly chart shows that USDSEK has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDSEK End of Day Recap
Updated 00:30 GMT (04:30 EST)
USDSEK entered today at 8.71609, down 3 pips (0%) from the previous day. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 28th in terms of percentage change since the previous day. The price chart of USDSEK below illustrates.
USDSEK Technical Analysis
The first thing we should note is that USDSEK is now close to its 20 and 200 day averages, located at 8.5788 and 8.6404 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 200 day average, which is 757.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.