The Tide May Be Shifting for Euro Stoxx 50 as it Crosses Above Its 20 Day Moving Average

News Releases Impacting Euro Stoxx 50

  • Forecasted Industrial Production MoM in Euro Area: 0.5%. The previous number: -1.8%. (127.78% difference between the two.)

The Hourly View for Euro Stoxx 50

  • At the moment, SX5E’s price is down -19 (-0.51%) 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.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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

  • Currently, SX5E’s price is down -64.48 (-1.7%) from the day prior.
  • Euro Stoxx 50 has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them 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