USDSEK Up 31 Pips Over Past Hour, Came Into Today Down For the 3rd Day In A Row; Crosses 50 Day Moving Average

Hourly Update

(Last Updated October 12, 2020 2:15 GMT)

At the moment, USDSEK’s rate is up 31 pips (0.04%) from the hour prior. The hourly chart shows that USDSEK has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDSEK is down 835 pips (0.94%) since the day prior (opening today near 8.77432), marking the 3rd day in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, USDSEK ended up ranking 37th for the day in terms of price change. Here is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

First things first: USDSEK crossed below its 50 day moving average yesterday. 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 50 day average, which is 149.9 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days USDSEK’s price has gone up 16 them.