The Hourly View for Euro Stoxx 50
- Currently, SX5E’s price is up 2.01 (0.05%) from the hour prior.
- The hourly chart shows that Euro Stoxx 50 has seen 2 straight up hours.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above it. 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 up 1.18 (0.03%) 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.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day 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 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. 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.