USD/SEK Up 36 Pips, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

USD/SEK Price Recap

USD/SEK is up 36 pips (0.04%) since yesterday (with its current price near 9.6551), marking the 3rd day in a row an upward move 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 23.08% from the day prior, but up 2.5% from the same day the week before. Relative to other instruments in the Forex asset class, USD/SEK ranked 15th yesterday in terms of percentage price change. Let’s take a look at price chart of USD/SEK.

USD/SEK Technical Analysis

The first thing we should note is that USD/SEK is now close to its 20, 50, 100 and 200 day averages, located at 9.568, 9.4878, 9.5986 and 9.5681 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 565 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much commentary on USDSEK that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Dos opciones en USDSEK, esperaremos las noticias de 11/02/20