Euro Stoxx 50 (SX5E) 2 Day Up Streak Snapped, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for SX5E

Last Updated June 9, 2021, 19:21 GMT

At the time of this writing, Euro Stoxx 50’s price is up 2 (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 choppiness in the recent daily price action of Euro Stoxx 50 continues; to start today, it came in at a price of 4096.01 US dollars, down 0.04% (1.64) since the day prior. Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 8th for the day in terms of price change relative to the day prior. Below is a daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

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. For another vantage point, consider that Euro Stoxx 50’s price has gone up 17 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!