USD/SEK Up 433 Pips On 4 Hour Chart, Moves Down For the 5th Day In A Row; in a Downtrend Over Past 14 Days

USD/SEK 4 Hour Price Update

Updated August 06, 2020 09:06 AM GMT (05:06 AM EST)

USD/SEK entered the current 4 hour candle at 8.6999, up 433 pips (0.5%) from the previous 4 hours. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 3rd in terms of percentage change since the previous 4 hours.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is down 71 pips (0.08%) since yesterday (opening today near 8.65555), marking the 5th day in a row a decline has happened. Relative to other instruments in the Forex asset class, USD/SEK ranked 39th yesterday in terms of percentage price change. The price chart of USD/SEK below illustrates.

USD/SEK

USD/SEK Technical Analysis

Coming into today the current price of USD/SEK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. 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 down 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.