USD/SEK Up 204 Pips On 4 Hour Chart, Price Base in Formation Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/SEK 4 Hour Price Update

Updated June 26, 2020 01:08 PM GMT (09:08 AM EST)

USD/SEK is up 204 pips (0.22%) since the previous 4 hours (opening the current 4 hour candle near 9.3423), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, USD/SEK gave its buyers a return that ranked 5th in terms of percentage change since the previous 4 hours.

USD/SEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/SEK, which started today off at 9.3183, up 216 pips 0.23% from the day prior. Out of the 40 instruments in the Forex asset class, USD/SEK ended up ranking 2nd for the day in terms of price change. Below is a price chart of USD/SEK.

USD/SEK Technical Analysis

Notably, the current price of USD/SEK is sitting close to its 20 and 50 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 20 day average, which is 229.2 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Volatility for USD/SEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 8 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!