USD/SEK Up 134 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; Crosses 100 Day Moving Average

Hourly Update

(Last Updated November 22, 2022 1:38 GMT)

Currently, USDSEK’s rate is up 134 pips (0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDSEK is up 819 pips (0.77%) since the previous day (opening today near 10.7126), marking the 3rd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, USDSEK ended up ranking 3rd for the day in terms of price change. Let’s take a look at price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDSEK crossed above its 100 day moving average yesterday. 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 100 day average, which is 135.5 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 10 days USDSEK’s price has gone up 6 them.