Euro Stoxx 50 (SX5E) Up 0.72%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

The Hourly View for SX5E

Last Updated November 12, 2020, 01:06 GMT

At the time of this writing, SX5E’s price is up $13 (0.38%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 closed the previous day up 0.72% (24.68); this denotes the 3rd day in a row it has gone up. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 8th 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 30 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 8 them.