Euro Stoxx 50 (SX5E) Up 0.88%, Crosses 20 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart

The Hourly View for SX5E

Last Updated October 9, 2020, 00:06 GMT

Currently, SX5E’s price is down $-2 (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on SX5E. Given that we see an uptrend on the 20 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 entered today at 3257.8501, up 0.88% ($28.5) from the day prior. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 6th since the day prior in terms of percentage price change. Here is a daily price chart of Euro Stoxx 50.

SX5E

Euro Stoxx 50 Technical Analysis

First things first: Euro Stoxx 50 crossed above its 20 and 200 day moving averages yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Euro Stoxx 50’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.