USD/SEK Down 177 Pips Over Past 4 Hours, Came Into Today Up For the 2nd Day In A Row; is Inching Close to 200 Day Average

USD/SEK 4 Hour Price Update

Updated May 26, 2020 09:11 PM GMT (05:11 PM EST)

The choppiness in the recent four-hour candle price action of USD/SEK continues; to start the current 4 hour candle, it came in at a price of 9.6237, down 177 pips (0.18%) since the previous 4 hours. Relative to other instruments in the Forex asset class, USD/SEK ranked 30th the previous 4 hours in terms of percentage price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is up 96 pips (0.1%) since the day prior (opening today near 9.67547), marking the 2nd day in a row an upward move has occurred. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Below is a price chart of USD/SEK.

USD/SEK Technical Analysis

Coming into today the current price of USD/SEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 144.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.