Euro Stoxx 50 is Up for the 2nd Day in a Row

The Hourly View for Euro Stoxx 50

  • At the moment, SX5E’s price is up 1.5 (0.04%) from the hour prior.
  • This is the 3rd hour in a row Euro Stoxx 50 has seen its price head up.
  • Regarding the trend, note that the strongest trend 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 an uptrend 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 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.

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 up 52.68 (1.29%) from the day prior.
  • This is the 2nd day in a row Euro Stoxx 50 has seen its price head up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 and 50 day moving averages have been crossed, with price now being above them. The moving averages on the daily 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.
  • 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