USD/SEK Up 53 Pips Over Past Hour, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated December 28, 2021 1:40 GMT)

Currently, USDSEK’s rate is up 53 pips (0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDSEK. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 9.10194, up 174 pips (0.19%) from yesterday. Relative to other instruments in the Forex asset class, USDSEK ranked 19th yesterday in terms of percentage price change. The price chart of USDSEK below illustrates.

USDSEK

USDSEK Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDSEK crossed above its 20 day moving average yesterday. 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. 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. Or to simplify this another way, note that out of the past 14 days USDSEK’s price has gone up 7 them.