USDSEK Down 29 Pips On Hourly Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 1, 2021 3:16 GMT)

At the time of this writing, USDSEK’s rate is down -29 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

The choppiness in the recent daily price action of USDSEK continues; to start today, it came in at a price of 8.21814, up 281 pips (0.34%) since yesterday. Out of the 40 instruments in the Forex asset class, USDSEK ended up ranking 10th for the day in terms of price change. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, the current price of USDSEK is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.