The Hourly View for SX5E
Last Updated May 12, 2021, 00:019 GMT
At the moment, Euro Stoxx 50’s price is down -3 (-0.08%) 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 a doji candlestick pattern on Euro Stoxx 50. Given that we see downtrend 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 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
The back and forth price flow continues for Euro Stoxx 50, which started today off at 4023.35 US dollars, down 0.27% (10.9) from the previous day. Relative to other instruments in the equity indices asset class, Euro Stoxx 50 ranked 11th since the previous day in terms of percentage price change. Below is a daily price chart of Euro Stoxx 50.
Euro Stoxx 50 Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 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.