Euro Stoxx 50 (SX5E) Down 0.32%, in an Uptrend Over Past 14 Days; is Inching Close to 50 and 100 Day Averages

The Hourly View for SX5E

Last Updated October 15, 2020, 00:05 GMT

At the time of this writing, SX5E’s price is down $-1 (-0.03%) from the hour prior. SX5E has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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

Euro Stoxx 50’s 4 day positive streak has officially concluded, as the candle from the day prior closed down 0.32% (10.49). Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 8th since the day prior in terms of percentage price change. The daily price chart of Euro Stoxx 50 below illustrates.


Euro Stoxx 50 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Euro Stoxx 50’s price has gone down 15 of the previous 30 trading days.