USD/SEK Up 26 Pips Over Past 4 Hours; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated June 23, 2020 01:07 PM GMT (09:07 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 9.3022, up 26 pips (0.03%) since the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/SEK ranked 20th the last 4 hour candle in terms of percentage price change.

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 9.3597, up 72 pips 0.08% from the day prior. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Let’s take a look at price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20 and 50 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 20 day average, which is 597.9 pips away. 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 90 and 30 day timeframes, where price is headed down. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDSEK, with 4 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

USDSEK Buy opportunity 📈 use risk management ⚠️