SEKUSD pushes through Wednesday's high


Swedish Krona/US Dollar (SEKUSD) Technical Analysis Report for Mar 26, 2020 | by Techniquant Editorial Team

Highlights

SEKUSD closes higher for the 5th day in a row
SEKUSD pushes through Wednesday's high

Overview

Moving higher for the 5th day in a row, SEKUSD finished Thursday at 0.1004 gaining 14 pips (1.41%). Closing above Wednesday's high at 0.0996, the market confirmed its breakout through the previous session high after trading up to 15 pips above it intraday.

Daily Candlestick Chart (SEKUSD as at Mar 26, 2020):

Daily technical analysis candlestick chart for Swedish Krona/US Dollar (SEKUSD) as at Mar 26, 2020

Thursday's trading range has been 27 pips (2.73%), that's slightly above the last trading month's daily average range of 23 pips. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently notably higher than usual for SEKUSD.

One bullish candlestick pattern matches today's price action, the White Candle. The last time a White Candle showed up on Tuesday, SEKUSD gained 0.30% on the following trading day.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "5 Consecutive Higher Closes" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for SEK/USD. Out of 23 times, SEKUSD closed lower 73.91% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 56.52% with an average market move of -0.50%.


Market Conditions for SEKUSD as at Mar 26, 2020

Loading Market Conditions for SEKUSD (Swedish Krona/US Dollar)...
Latest Report:

SEKUSD pushes through Monday's high

Apr 07, 2020
Looking for USDSEK instead? Click here
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Swedish Krona/US Dollar traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!