The Tide May Be Shifting for Euro Stoxx 50 as it Crosses Above Its 100 Day Moving Average

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is up 3 (0.07%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Euro Stoxx 50 has now gone up 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 20 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.
  • Of note is that the 50 hour changed directions on SX5E; it is now pointing down. 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

    500 – Internal server error

  • It’s been a feast for bears operating on the daily timeframe, as Euro Stoxx 50 has now gone down 28 of the past 30 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100, 20 and 50 day moving averages have been crossed, with price now being below them. 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