USDSEK Down 92 Pips Over Past Hour; Nears 100 Day Moving Average

Hourly Update

(Last Updated October 22, 2021 23:14 GMT)

Currently, USDSEK’s rate is down -92 pips (-0.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDSEK. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)

The choppiness in the recent daily price action of USDSEK continues; to start today, it came in at a price of 8.62689, down 336 pips (0.39%) since yesterday. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 31st in terms of percentage change since yesterday. Let’s take a look at price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, USDSEK is now close to its 20, 50, 100 and 200 day averages, located at 8.7146, 8.678, 8.6063 and 8.5122 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone down 9 them.