The Hourly View for Euro Stoxx 50
- At the moment, SX5E’s price is up 7.51 (0.19%) from the hour prior.
- This is the 2nd hour in a row Euro Stoxx 50 has seen its price head up.
- Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
- Price action traders may also wish to note that we see a doji candlestick pattern on Euro Stoxx 50. Given that we see downtrend 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 50 hour changed directions on SX5E; it is now pointing up. 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.
The Daily View for Euro Stoxx 50
- Currently, SX5E’s price is down -43.11 (-1.05%) from the day prior.
- It’s been a feast for bulls operating on the daily timeframe, as Euro Stoxx 50 has now gone up 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.
- Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them so that price is now turning below 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.
Below is a daily price chart of Euro Stoxx 50.