(Last Updated January 14, 2021 2:16 GMT)
Currently, USDSEK’s rate is down -60 pips (-0.07%) 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 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
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 8.3408, up 984 pips (1.19%) since the previous day. For context, observe that the previous day was noteworthy in the sense that USDSEK bested all 40 of the assets in the Forex class. Below is a price chart of USDSEK.
USDSEK Technical Analysis
Moving average crossovers are always interesting, so let’s start there: USDSEK crossed above its 20 day moving average yesterday. Volatility for USDSEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USDSEK’s price has gone down 18 them.