Euro Stoxx 50’s Hot Streak: Up 8 of the Past 10 Days

News Releases Impacting Euro Stoxx 50

  • Forecasted Industrial Production YoY in Euro Area: 4.1%. The previous number: 5.1%. (19.61% difference between the two.)

The Hourly View for Euro Stoxx 50

  • Currently, SX5E’s price is up 4.01 (0.09%) from the hour prior.
  • Euro Stoxx 50 has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • 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

  • At the time of this writing, SX5E’s price is up 4.19 (0.1%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Euro Stoxx 50 has now gone up 8 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day 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 an uptrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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