USDSEK Down 3 Pips in Last Hour, is Inching Close to 50 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 15, 2021 1:14 GMT)

Currently, USDSEK’s rate is down -3 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDSEK has now gone down 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 50 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)

The back and forth price flow continues for USDSEK, which started today off at 8.60398, down 259 pips 0.3% from the day prior. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 33rd in terms of percentage change since the day prior. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Notably, USDSEK is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 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!