Euro Stoxx 50 (SX5E) Up 0.64%, Crosses 20 Day Moving Average; in an Uptrend Over Past 30 Days

The Hourly View for SX5E

Last Updated May 4, 2021, 04:019 GMT

At the moment, Euro Stoxx 50’s price is down -2.01 (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 hour moving average has been crossed, so that price is now turning below it. 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

The back and forth price flow continues for Euro Stoxx 50, which started today off at 4000.25 US dollars, up 0.64% (25.51) from the day prior. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 4th since the day prior in terms of percentage price change. Below is a daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

Notably, Euro Stoxx 50 crossed above 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 14 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 up 5 of the previous 10 trading days.