Euro Stoxx 50 (SX5E) Heads Down For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart

The Hourly View for SX5E

Last Updated February 25, 2021, 00:020 GMT

At the moment, Euro Stoxx 50’s price is down -2 (-0.05%) from the hour prior. Euro Stoxx 50 has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 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 0.29% (10.75) from the open of the previous day, marking the 2nd day in a row a decline has happened. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 12th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Euro Stoxx 50.


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. 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. Or to view things another way, note that out of the past 10 days Euro Stoxx 50’s price has gone down 6 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.