Euro Stoxx 50 (SX5E) Down 0.13%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days

The Hourly View for SX5E

Last Updated November 24, 2020, 01:06 GMT

At the moment, SX5E’s price is down $-13.01 (-0.37%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 below it. The moving averages on the hourly 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.

Euro Stoxx 50 Daily Price Recap

3463.04 was the closing price of the day for Euro Stoxx 50, resulting in today being one in which price moved down 0.13% ($4.56) from the previous day. Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 12th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 10 out of the past 14 days.