USD/SEK Down 140 Pips in Last 4 Hours, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated June 19, 2020 09:21 AM GMT (05:21 AM 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 9.4027, down 140 pips (0.15%) since the previous 4 hours. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 34th in terms of percentage change since the previous 4 hours.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/SEK, which started today off at 9.41349, down 81 pips 0.09% from the previous day. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 37th in terms of percentage change since the previous day. Below is a price chart of USD/SEK.

USD/SEK Technical Analysis

Coming into today USD/SEK is now close to its 20, 50 and 200 day averages, located at 9.3053, 9.5986 and 9.645 respectively, and thus may be at a key juncture along those timeframes. 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 1082.4 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 and 90 day timeframes, where price is headed down. Or to simplify this another way, note that out of the past 10 days USD/SEK’s price has gone down 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!