USDSEK Down 79 Pips in Last Hour, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated December 31, 2020 2:16 GMT)

At the time of this writing, USDSEK’s rate is down -79 pips (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDSEK is down 48 pips (0.06%) since the previous day (opening today near 8.19008), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, USDSEK gave its buyers a return that ranked 25th in terms of percentage change since the previous day. Here is a price chart of USDSEK.

USDSEK

USDSEK Technical Analysis

The first thing we should note is that USDSEK is now close to its 20 day averages, located at 8.3486 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!