USD/SEK Down 919 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 14 Days

USD/SEK 4 Hour Price Update

Updated May 18, 2020 05:10 PM GMT (01:10 PM EST)

USD/SEK is down 919 pips (0.94%) since the last 4 hour candle (opening the current 4 hour candle near 9.7146), marking the 4th candle in a row it has gone down. Relative to other instruments in the Forex asset class, USD/SEK ranked 36th 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 57 pips (0.06%) since the previous day (opening today near 9.8561), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, USD/SEK ranked 9th the previous day in terms of percentage price change. Let’s take a look at price chart of USD/SEK.

USD/SEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USD/SEK crossed above its 20 day moving average yesterday. 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 64.8 pips away. 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 30 day horizon; over that time period, price has been moving down. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 14 days.