Euro Stoxx 50 (SX5E) Down 0.35%, in a Downtrend Over Past 14 Days; Price Base in Formation Over Past 90 Days

The Hourly View for SX5E

Last Updated October 5, 2020, 02:08 GMT

At the moment, SX5E’s price is down $-4.01 (-0.13%) 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 50 hour timeframe. 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

Euro Stoxx 50 came into today down 0.35% (11.17) from the open of the previous day, marking the 4th straight day a decrease has occurred. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 9th since the previous day in terms of percentage price change. The daily price chart of Euro Stoxx 50 below illustrates.

SX5E

Euro Stoxx 50 Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. 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 down 8 out of the past 10 days.