The Hourly View for SX5E
Last Updated May 6, 2021, 03:019 GMT
At the time of this writing, Euro Stoxx 50’s price is down -3.01 (-0.08%) from the hour prior. This is the 2nd consecutive hour Euro Stoxx 50 has seen its price head down. Regarding the trend, note that the strongest trend exists on the 100 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 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 Daily Price Recap
4002.79 was the closing price of the day for Euro Stoxx 50, resulting in today being one in which price moved up 1.99% ($77.99) from the previous day. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 2nd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Euro Stoxx 50.
Euro Stoxx 50 Technical Analysis
Notably, Euro Stoxx 50 crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Euro Stoxx 50’s price has gone up 18 them.