USD/SEK Up 50 Pips in Last 4 Hours, Moves Down For the 2nd Day In A Row; Price Base in Formation Over Past 30 Days

USD/SEK 4 Hour Price Update

Updated July 01, 2020 01:01 AM GMT (09:01 PM EST)

USD/SEK is up 50 pips (0.05%) since the last 4 hour candle (opening the current 4 hour candle near 9.3232), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, USD/SEK ranked 2nd the last 4 hour candle in terms of percentage price change.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/SEK is down 39 pips (0.04%) since the previous day (opening today near 9.3209), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, USD/SEK ranked 21st the previous day in terms of percentage price change. Here is a price chart of USD/SEK.

USD/SEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USD/SEK crossed below its 20 day moving average yesterday. 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 20 day average, which is 33 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 14 days USD/SEK’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.