USD/SEK Up 68 Pips in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated May 19, 2020 05:13 PM GMT (01:13 PM 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 9.6626, up 68 pips (0.07%) since the previous 4 hours. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 19th in terms of percentage change since the previous 4 hours.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USD/SEK continues; to start today, it came in at a price of 9.69929, up 25 pips (0.03%) since the previous day. Relative to other instruments in the Forex asset class, USD/SEK ranked 25th the previous day in terms of percentage price change. The price chart of USD/SEK below illustrates.

USD/SEK Technical Analysis

The first thing we should note is that the current price of USD/SEK is sitting close to its 20, 50, 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 200 day average, which is 30 pips away. 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 30 days USD/SEK’s price has gone up 15 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.