The Hourly View for SX5E
Last Updated November 13, 2020, 01:05 GMT
At the time of this writing, SX5E’s price is down $-2.28 (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on SX5E. 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. 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
The end of a 3 day positive run has come for Euro Stoxx 50, which finished the day prior down 1.13% (39.1). Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 11th for the day in terms of price change relative to the day prior. Let’s take a look at the daily price chart of Euro Stoxx 50.
Euro Stoxx 50 Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 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 up 7 out of the past 10 days.