The Hourly View for Euro Stoxx 50
- At the moment, SX5E’s price is down -0.5 (-0.01%) from the hour prior.
- It’s been a feast for bears operating on an hourly timeframe, as Euro Stoxx 50 has now gone down 4 of the past 5 hours.
- Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Euro Stoxx 50. Given that we see downtrend on the 20 and 10 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 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.
Euro Stoxx 50’s hourly price chart is shown below.
The Daily View for Euro Stoxx 50
- At the time of this writing, SX5E’s price is down -21.12 (-0.5%) from the day prior.
- It’s been a feast for bears operating on the daily timeframe, as Euro Stoxx 50 has now gone down 4 of the past 5 days.
- If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
- Of note is that the 50 day changed directions on SX5E; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Below is a daily price chart of Euro Stoxx 50.