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

News Releases Impacting Euro Stoxx 50

  • Forecasted Industrial Production YoY in Euro Area: 4.1%. The actual number: 5.2%. (21.15% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is down -0.5 (-0.01%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move up.
  • 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 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 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.

SX5E

The Daily View for Euro Stoxx 50

  • Currently, SX5E’s price is up 9.18 (0.21%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Euro Stoxx 50 has now gone up 8 of the past 10 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • 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