Euro Stoxx 50 May Be Offering a Trading Opportunity With Its Cross Below Its 50 Moving Average

News Releases Impacting Euro Stoxx 50

  • Forecasted S&P Global Manufacturing PMI Flash in Euro Area: 51. The actual number: 49.6. (2.82% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is up 2.98 (0.08%) from the hour prior.
  • Euro Stoxx 50 has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls.
  • 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 5 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

  • At the moment, SX5E’s price is up 11.27 (0.31%) 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 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. 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.

Below is a daily price chart of Euro Stoxx 50.

SX5E