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

News Releases Impacting Euro Stoxx 50

  • Forecasted Consumer Confidence Flash in Euro Area: -20.5-.. The previous number: -21.1-.. (2.84% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the moment, SX5E’s price is down -2.01 (-0.06%) 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 a pin bar candlestick pattern 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.
  • Of note is that the 20 hour changed directions on SX5E; it is now pointing up. 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

  • Currently, SX5E’s price is up 31.37 (0.91%) from the day prior.
  • This is the 2nd day in a row Euro Stoxx 50 has seen its price head up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • The moving averages on the daily 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.
  • 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