Euro Stoxx 50 (SX5E) Down 0.55%, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days

The Hourly View for SX5E

Last Updated May 3, 2021, 02:019 GMT

At the time of this writing, Euro Stoxx 50’s price is down 0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Euro Stoxx 50 has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Euro Stoxx 50. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on SX5E; it is now pointing down. 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 0.55% (22.16) from the open of the day prior, marking the 2nd straight day a decline has happened. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 6th 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

Moving average crossovers are always interesting, so let’s start there: Euro Stoxx 50 crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Euro Stoxx 50’s price has gone up 8 them.