Euro Stoxx 50’s 3 Day Up Streak Comes to an End

News Releases Impacting Euro Stoxx 50

  • Forecasted S&P Global Manufacturing PMI Flash in Euro Area: 53.9.. The previous number: 54.6.. (1.28% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the moment, SX5E’s price is down -9.02 (-0.26%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning below them. 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’s hourly price chart is shown below.

SX5E

The Daily View for Euro Stoxx 50

  • Currently, SX5E’s price is down -29.36 (-0.84%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily 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.
  • 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