USDSEK Up 94 Pips On Hourly Chart, 2 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 4, 2021 2:16 GMT)

At the moment, USDSEK’s rate is up 94 pips (0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 8.21814, up 281 pips (0.34%) from yesterday. Relative to other instruments in the Forex asset class, USDSEK ranked 10th yesterday in terms of percentage price change. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Coming into today the current price of USDSEK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone down 10 them.