Euro Stoxx 50 Trend May Be Changing as Price Just Breached Above Its 50 Day Moving Average

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is up 0.5 (0.01%) from the hour prior.
  • Euro Stoxx 50 has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns 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’s hourly price chart is shown below.

SX5E

The Daily View for Euro Stoxx 50

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  • This move is a reversal from the day prior, which saw price move up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 100 and 50 day moving averages, resulting in them so that price is now turning below them. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between SX5E’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in SX5E’s price.

Below is a daily price chart of Euro Stoxx 50.

SX5E