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Euro Stoxx 50 Does it Again: Heads Up for the 7th Straight Day

SX5E

The Hourly View for Euro Stoxx 50

  • At the time of this writing, SX5E’s price is up 2 (0.05%) 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.
  • Regarding the trend, note that the strongest trend exists on the 50 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 an uptrend on the 20 and 10 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

  • At the time of this writing, SX5E’s price is up 10.67 (0.26%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Euro Stoxx 50 has now gone up 9 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • The moving averages on the daily 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.
  • 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