Euro Stoxx 50’s 4 Day Up Streak Comes to an End

News Releases Impacting Euro Stoxx 50

  • Forecasted Unemployment Rate in Euro Area: 6.8%. The previous number: 6.8%. (0% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is up 4 (0.11%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • 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 a pin bar 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 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.

Euro Stoxx 50’s hourly price chart is shown below.

SX5E

The Daily View for Euro Stoxx 50

  • Currently, SX5E’s price is down -52.41 (-1.36%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Euro Stoxx 50 has now gone up 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 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