USD/SEK Up 45 Pips Over Past Hour, in an Uptrend Over Past 90 Days; Eyes 50 Day Average

Hourly Update

(Last Updated August 4, 2022 1:39 GMT)

At the time of this writing, USDSEK’s rate is up 45 pips (0.04%) 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 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 entered today at 10.2127, down 289 pips (0.28%) from the day prior. Out of the 39 instruments in the Forex asset class, USDSEK ended up ranking 30th for the day in terms of price change. Here is a 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 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days USDSEK’s price has gone down 17 them.