USDSEK Up 67 Pips in Last Hour; 2 Day Down Streak Snapped

Hourly Update

(Last Updated January 8, 2021 3:16 GMT)

Currently, USDSEK’s rate is up 67 pips (0.08%) from the hour prior. The hourly chart shows that USDSEK has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 back and forth price flow continues for USDSEK, which started today off at 8.1854, up 203 pips 0.25% from the previous day. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 18th in terms of percentage change since the previous day. Let’s take a look at price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

The first thing we should note is that 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. 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days USDSEK’s price has gone down 6 them.