Euro Stoxx 50 (SX5E) Heads Up For the 2nd Consecutive Day

The Hourly View for SX5E

Last Updated May 31, 2021, 02:019 GMT

At the moment, Euro Stoxx 50’s price is down -1 (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move 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 Euro Stoxx 50. Given that we see an uptrend 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

Euro Stoxx 50 is up 0.78% (31.35) since the previous day, marking the 2nd consecutive day it has gone up. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 3rd since the previous day in terms of percentage price change. Below is a daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Euro Stoxx 50’s price has gone up 6 of the previous 10 trading days.