USDSEK Down 35 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated August 3, 2021 3:14 GMT)

At the moment, USDSEK’s rate is down -35 pips (-0.04%) from the hour prior. This is the 2nd straight hour USDSEK has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 8.59286, down 149 pips (0.17%) from yesterday. Relative to other instruments in the Forex asset class, USDSEK ranked 26th yesterday in terms of percentage price change. Below is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

Coming into today the current price of USDSEK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 30 days USDSEK’s price has gone up 17 them.