Steve Miley is - The Market Chartist

Financial Market Technical Chart Blogs from Steve Miley - The Market Chartist

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Euro STOXX 50 Reverses Critical 2012-14 Up Trend Line/ Key 3006/05 Props

Posted by on in Equity Index Chart Updates
  • Font size: Larger Smaller
  • Hits: 734
  • Print
Euro STOXX 50 Reverses Critical 2012-14 Up Trend Line/ Key 3006/05 Props

European benchmark bear trend extension risk

·         We have stressed in our client reports all week that “we still see risk to the critical 2012-14 trend line, at 3023 for this week, with the 38.2% retrace of the up leg from mid-2013 and April swing low at 3006/05”.

·         The better push through the trend line on Thursday has allowed for a break below the next key 3006/05 props.

·         This signals a far more bearish tone and leaves risk into mid-August to 2973, 2962 and 2928 targets.

·         Overshoot risk is to the 50% retrace of the up leg from mid-2013 at 2907 and then the key March low at 2896 through mid-month.


·         Above 3062/64 eases bear risks; through 3096/99 signals a neutral tone, only shifting positive above 3213.

Download full report, levels & screencast here:



Last modified on
Rate this blog entry:

Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



  • affiliatelogos.png



  • users1.png
  • users2.png
  • users3.png
  • users4.png


Holiday and cessation of service: 7th-23rd August 2017

Hi Market Chartist Users and Trialists, The Market Chartist reports will be paused for just over 2 weeks, whilst we take a vacation.

The last report will be on Friday 4th August, with service resuming on Thursday 24th August.We wish you successful trading in our absence