USD/SEK Outperforms All Forex, Up 925 Pips; in an Uptrend Over Past 14 Days

USD/SEK Price Recap

9.77679 (USD) was the opening price of the day for USD/SEK, resulting in yesterday being a day in which price moved up 925 pips 0.96% from the day prior. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 58.38% from the day prior, but down 19.25% from the same day the week before. On a relative basis, yesterday was pretty good: USD/SEK bested all 40 of the assets in the Forex class 🙂 In other words:

via GIPHY

Okay, okay, you know we have trouble resisting the memes around here 🙂 Getting back to business, here is a price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20, 100 and 200 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 1509.2 pips away. Volatility for USD/SEK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.