USD/SEK Down 1 Pips On 4 Hour Chart, in a Downtrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated July 21, 2020 09:11 AM GMT (05:11 AM EST)

After 4 up four-hour candles, USD/SEK snaps its streak, falling 1 pips (0%) over the past four-hour candle to close at an exchange rate of 8.9636. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 20th in terms of percentage change since the previous 4 hours.

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 8.96508, up 74 pips 0.08% from the day prior. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 7th for the day in terms of price change. The price chart of USD/SEK below illustrates.

USD/SEK Technical Analysis

Coming into today USD/SEK is now close to its 20 day averages, located at 9.1773 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 20 day average, which is 2122.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 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.