USD/SEK Up 242 Pips in Last 4 Hours, Moves Up For the 2nd Day In A Row; Eyes 100 Day Average

USD/SEK 4 Hour Price Update

Updated May 14, 2020 09:09 AM GMT (05:09 AM EST)

USD/SEK is up 242 pips (0.25%) since the last 4 hour candle (opening the current 4 hour candle near 9.8535), marking the 2nd candle in a row an increase has occurred. Out of the 37 instruments in the Forex asset class, USD/SEK ended up ranking 2nd for the four-hour candle in terms of price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is up 8 pips (0.01%) since yesterday (opening today near 9.8121), marking the 2nd day in a row it has gone up. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 28th for the day in terms of price change. Here is a price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, USD/SEK is now close to its 20, 50, 100 and 200 day averages, located at 9.8725, 9.9852, 9.8028 and 9.6963 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 100 day average, which is 92.9 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. 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. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone up 8 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.