Euro Stoxx 50 Does it Again: Heads Down for the 3rd Straight Day

The Hourly View for Euro Stoxx 50

  • At the moment, SX5E’s price is down -1.08 (-0.03%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 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.

SX5E

The Daily View for Euro Stoxx 50

  • At the moment, SX5E’s price is down -38.89 (-0.96%) 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 trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Of note is that the 100 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.
  • 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.

SX5E