USD/SEK Up 509 Pips Over Past 4 Hours, 3 Day Down Streak Ended; in a Downtrend Over Past 14 Days

USD/SEK 4 Hour Price Update

Updated May 21, 2020 05:08 PM GMT (01:08 PM EST)

The back and forth price flow continues for USD/SEK, which started the current 4 hour candle off at 9.6328, up 509 pips 0.53% from the previous 4 hours. For context, observe that the previous 4 hours were noteworthy in the sense that USD/SEK bested all 37 of the assets in the Forex class.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK, which opened today priced near 9.58504, is up 69 pips 0.07% since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 13th in terms of percentage change since the previous day. The price chart of USD/SEK below illustrates.

USD/SEK Technical Analysis

Coming into today USD/SEK is now close to its 20, 100 and 200 day averages, located at 9.7794, 9.8133 and 9.6934 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 200 day average, which is 1083.8 pips away. 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 10 days USD/SEK’s price has gone up 5 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 0 sell signals and 1 buy 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 that we thought you might enjoy.