The Hourly View for Euro Stoxx 50
- At the time of this writing, SX5E’s price is up 3 (0.07%) from the hour prior.
- This move is a reversal from the hour prior, which saw price move down.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 above 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.
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 9 of the past 10 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.
- Most noteworthy in the world of moving averages on the daily chart is that the 100 and 50 day moving averages have been crossed, so that price is now turning above them. 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.