Euro Stoxx 50 (SX5E) Moves Up For the 3rd Day In A Row; Price Base in Formation Over Past 90 Days

The Hourly View for SX5E

Last Updated October 13, 2020, 00:06 GMT

Currently, SX5E’s price is down $-2.01 (-0.06%) from the hour prior. This is the 2nd hour in a row SX5E has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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

Euro Stoxx 50 came into today up 0.35% (11.62) from the open of the day prior, marking the 3rd 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 10th for the day in terms of price change relative to the day prior. The daily price chart of Euro Stoxx 50 below illustrates.

SX5E

Euro Stoxx 50 Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 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 7 of the previous 14 trading days.