Euro Stoxx 50 (SX5E) Up 0.19%, in an Uptrend Over Past 30 Days; Doji Pattern Appearing on Chart

The Hourly View for SX5E

Last Updated April 27, 2021, 02:019 GMT

At the moment, Euro Stoxx 50’s price is down -3 (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 doji candlestick pattern on Euro Stoxx 50. Given that we see an uptrend on the 20 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 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

The choppiness in the recent daily price action of Euro Stoxx 50 continues; to start today, it came in at a price of 4020.83 US dollars, up 0.19% (7.49) since the day prior. Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 8th for the day in terms of price change relative to the day prior. Here is a daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

Volatility for Euro Stoxx 50 has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Euro Stoxx 50’s price has gone up 7 them. As for those who trade off of candlesticks, we should note that we’re seeing doji pattern appearing here.