Euro Stoxx 50 (SX5E) 4 Day Up Streak Ended; in an Uptrend Over Past 14 Days

The Hourly View for SX5E

Last Updated November 20, 2020, 03:019 GMT

Currently, SX5E’s price is up 2 (0.06%) from the hour prior. The hourly chart shows that SX5E has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 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 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above 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

Euro Stoxx 50’s 4 day positive streak has officially concluded, as the candle from the previous day closed down 0.87% (30.2). Out of the 14 instruments in the equity indices asset class, Euro Stoxx 50 ended up ranking 12th for the day in terms of price change relative to the previous day. The daily price chart of Euro Stoxx 50 below illustrates.

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 additional context, note that price has gone up 11 out of the past 14 days.