(Last Updated January 12, 2021 2:16 GMT)
At the time of this writing, USDSEK’s rate is up 40 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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)
USDSEK is up 694 pips (0.84%) since the previous day (opening today near 8.2991), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 6th in terms of percentage change since the previous day. The price chart of USDSEK below illustrates.
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. 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. For additional context, note that price has gone up 6 out of the past 10 days.