Euro Stoxx 50 (SX5E) Up 0.42%; in an Uptrend Over Past 90 Days

The Hourly View for SX5E

Last Updated March 30, 2021, 23:19 GMT

Currently, Euro Stoxx 50’s price is down -2 (-0.05%) 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

Euro Stoxx 50 is up 0.42% (16.19) since yesterday, marking the 2nd day in a row an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 5th for the day in terms of price change relative to yesterday. Here is a daily price chart of Euro Stoxx 50.

SX5E

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 30 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 7 of the previous 14 trading days.