The Hourly View for Euro Stoxx 50
- At the moment, SX5E’s price is down -1 (-0.02%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Euro Stoxx 50. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Euro Stoxx 50’s hourly price chart is shown below.
The Daily View for Euro Stoxx 50
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- It’s been a feast for bears operating on the daily timeframe, as Euro Stoxx 50 has now gone down 27 of the past 30 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.
- 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.
- Divergence between SX5E’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SX5E’s price.
Below is a daily price chart of Euro Stoxx 50.