USD/SEK Up 25 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 23, 2021 1:38 GMT)

Currently, USDSEK’s rate is up 25 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDSEK. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 458 pips (0.51%) since the previous day (opening today near 8.99269), marking the 3rd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, USDSEK ranked 8th the previous day in terms of percentage price change. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone up 11 them.