USD/SEK Up 66 Pips On 4 Hour Chart, 3 Day Down Streak Ended; in a Downtrend Over Past 14 Days

USD/SEK 4 Hour Price Update

Updated May 21, 2020 12:47 AM GMT (08:47 PM EST)

A moment of silence, please, for the end of USD/SEK’s 4 four-hour candle down streak; price ended the last 4 hour candle up 66 pips (0.07%) to finish the four-hour candle at a rate of 9.5851. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 7th in terms of percentage change since the last 4 hour candle.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of USD/SEK’s 3 day down streak; price ended the previous day up 69 pips (0.07%) to finish the day at a rate of 9.58504. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 13th in terms of percentage change since the previous day. Here is a price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 1083.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USD/SEK’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDSEK; just 0 sell signals and 1 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.