(Last Updated July 19, 2021 3:14 GMT)
Currently, USDSEK’s rate is up 37 pips (0.04%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as USDSEK has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 183 pips (0.21%) since yesterday (opening today near 8.6834), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, USDSEK ranked 7th yesterday in terms of percentage price change. Here is a price chart of USDSEK.
USDSEK Technical Analysis
Coming into today USDSEK is now close to its 20 day averages, located at 8.5647 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 1187.4 pips away. Volatility for USDSEK 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 up. For additional context, note that price has gone up 20 out of the past 30 days.