Euro Stoxx 50 (SX5E) Up 0.02%; Price Base in Formation Over Past 90 Days

The Hourly View for SX5E

Last Updated October 14, 2020, 00:06 GMT

At the time of this writing, SX5E’s price is up $4 (0.12%) from the hour prior. This is the 2nd consecutive hour SX5E has seen its price head 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 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 came into today up 0.02% (0.68) from the open of the previous day, marking the 4th day in a row an increase has occurred. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 5th since the previous day in terms of percentage price change. 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. Or to view things another way, note that out of the past 14 days Euro Stoxx 50’s price has gone up 7 them.