USD/SEK Up 35 Pips, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

USD/SEK Price Recap

USD/SEK is up 35 pips (0.04%) since yesterday (with its current price near 9.7803), marking the 2nd day in a row an increase has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 0.89% from the day prior, but up 4.05% from the same day the week before. Relative to other instruments in the Forex asset class, USD/SEK ranked 22nd yesterday in terms of percentage price change. Let’s take a look at price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 1403.3 pips away. Volatility for USD/SEK has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USD/SEK’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.