The Hourly View for SX5E
Last Updated April 9, 2021, 03:019 GMT
Currently, Euro Stoxx 50’s price is down -4.01 (-0.1%) 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 100 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 and 10 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 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
The choppiness in the recent daily price action of Euro Stoxx 50 continues; to start today, it came in at a price of 3977.83 US dollars, up 0.53% (21.06) since the day prior. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 7th since the day prior in terms of percentage price change. Here is a daily price chart of Euro Stoxx 50.
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. For another vantage point, consider that Euro Stoxx 50’s price has gone up 17 of the previous 30 trading days.