The more aggressive spread of the coronavirus into other European countries outside of Italy, after the lockdown last weekend of 15 Italian provinces was extended to the whole of the country, was underscored by the World Health Organisation (WHO) now categorising COVID-19 as a pandemic. Spain is now on lockdown too, with many European nations … Continued
Steve Miley has 29 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Market Chartist, the Editor-in-Chief for FXExplained.co.uk, the Academic Dean for The London School of Wealth Management, plus Senior Investment Advisor at Kylin Prime Capital.
At FXExplained.co.uk Steve is the Editor-in-Chief, alongside producing numerous articles for the site. The ability to be able to reach out to a wide, global audience with his own analysis and also assist and nurture other authors in their creative process makes this a role that Steve values deeply.
Here are Steve’s tips on what pages to follow closely on FxExplained: Current market analysis and Best trading app in UK.
The Market Chartist
The Market Chartist was founded in 2012 and provides daily technical analysis reports, with written commentary and key support/ resistance levels to an institutional, professional and retail client base. The 30+ daily reports include European, UK and US Bonds & Equity Index Futures, G10 currencies, UK Natural Gas, TTF Gas, German Power, EUA Emissions and LME Base Metals.
As The Market Chartist, Steve has won many awards from the Technical Analyst Magazine. He was the 2016 & 2013 Winner (plus 2014 Runner Up) for Best Independent Fixed Income Research & Strategy and winner of Best FX Research & Strategy in 2012. He was also a finalist in the Technical Analyst of the Year category each year for 2012-2017.
Other Current Positions
Steve is also the Academic Dean for The London School of Wealth Management, a role he really enjoys. He appreciates the opportunity to be able to educate a diverse array of students in all aspects of the financial market’s world. Steve says “to be able to be a part of transforming an individual’s life through education is truly a privilege and very exciting”.
In his role as Senior Investment Advisor at Kylin Prime Capital, Steve supports and advises the investment management team by employing his extensive fundamental market experience, alongside his wealth of technical analysis knowledge. This allows him to add significant value to investment decisions.
Steve also writes extensively for numerous financial markets sites including: FxStreet.com, TechnicalAnalyst.co.uk, InsideFutures.com, BarChart.com, StockTwits.com, StockBrokers.com, AskTraders.com and Investing.com.
Previous to this, Steve was also a Senior Lecturer at The London Academy of Trading where he fully began his journey into the world of education. It was here that he honed his skills as a lecture and mentor in the world of financial markets education.
Vast Technical Analysis Experience
Steve has also helped technical analysis push into a new era in his previous role as Director at Vega Insight. Vega Insight is a relatively new company with a specific focus on Artificial Intelligence and Machine Learning in global commodity and broader financial markets, with special focus on Energy. In his role Steve was responsible for the technical analysis inputs to the Artificial Intelligence and Machine Learning.
Steve spent 2009-2012 as a Director in the Technical Analysis Research Strategy team at Credit Suisse. Steve managed the FX division, responsible for the reports, forecasts and bank wide research for G10 & Emerging Markets currencies. In this role he also covered all major asset classes including Equity Indices, Rates & Credit, plus Commodities.
Steve spent most of his career at Merrill Lynch for 15 years from 1994-2009. The last ten years was as a Vice President in the research department as a technical analyst, responsible for daily reports, client presentations, plus in-house and client education programs. Prior to this, Steve was in the Fixed Income derivatives sales team where he managed the Italian Futures desk (BTP and EuroLira) on LIFFE (the London International Financial Futures Exchange). He was responsible for a four-man sales team, who consistently produced high volume of sales from both in-house and external clients.
He is a Member of the Society of Technical Analysts (MSTA) and holds a Master’s degree in politics, Philosophy & Economics from Oxford University (Lincoln College).
An extremely aggressive selloff by global stock averages Wednesday and overnight into Thursday reacting to ban on travel from Europe by the Trump administration. The major global share indices plunged lower to multi-year lows, through the troughs from Monday, to reinforce the bear moves seen from the gaps lower on Sunday night/ Monday morning. Here … Continued
A significant selloff in the past 24 hours for the British Pound Sterling versus the US Dollar, with GBPUSD wiping out much of the upside progress of the past week. This has primarily been due to a resumption of some modest, broad US Dollar strength, on hopes of a fiscal stimulus package from the US, … Continued
An extremely aggressive selloff by global stock averages to start the week, reacting to the lockdown in Italy, the state of emergency on New York and the oil price war. This saw the major global share indices gap lower on Sunday night/ Monday morning, with circuit breakers kicking in on the S&P 00 future and … Continued
The more aggressive, global spread of the coronavirus outside of China in early March has further increased concerns regarding a pandemic, notably with the spread of the virus in Europe and the US. The more aggressive spread in Italy, and the lockdown this weekend of 15 provinces in the country has highlighted the potential risks … Continued
A more bearish tone for global equity indices over the past 24 hours after a more erratic theme this week, as markets now shift back towards the late February “risk off” fear phase. This has seen the rebound and basing attempts that began March starting to be dismantled. The risk is for the current bear … Continued
An erratic tone for global stock averages this week, as markets continue to attempt a shift away from the late February “risk off” panic, with rebound and basing attempts to start March. This reflected the multilateral intervention by Central Banks in reaction to the threat to the global economy from the spread of the coronavirus, … Continued
An attempt to a shift away from the late February “risk off” panic with a rebound effort by equity markets to start March on Monday, after the plunge lower across global equity averages in latter February. This reflected anticipation of a multilateral intervention by Central Banks and Finance Ministers in reaction to the threat to … Continued
An extremely erratic recovery effort to start March for global equity averages. This has reflected increasing anticipation of a multilateral intervention by Central Banks and Finance Ministers in reaction to the plunge lower in stock markets around the globe with fears of the spread of the coronavirus. Here we focus on recovery attempts by the … Continued
The spread of the coronavirus outside of China has intensified global concerns regarding a pandemic, notably with the spread of the virus in South Korea, Iran and Italy. The spread in Italy, and the growing potential for a spread throughout Europe triggered far more aggressive, capitulation like activity across global financial markets, which are completely … Continued
Again, a very aggressive selloff in the past 24 hours for global stock markets as equity investors head for the hills, with buying of safe haven bonds. The driver remains fears of a significant the global economic slowdown from the wider spread of the coronavirus outside of China. Global equity averages are plunging through Q4 … Continued
Yet another aggressive selloff over the past 24 hours for global share indices as investors go into flight to quality mode, buying safe havens bonds. This continues to reflect fears for the global economy and corporate earnings with the global spread of the coronavirus outside of China. Global equity averages continue to plunge through support … Continued
Another aggressive selloff over the past 24 hours in global stock averages, with safe havens, bonds and the Japanese yen rallying again. This was again a product of growing worries regarding the global spread outside of China, of the coronavirus. Global stock averages have capitulated through key levels from Q1 2020 and even Q4 2019. … Continued
An aggressive selloff over the past 24-36 hours in riskier financial markets assets such as equities, with safe haven assets, notably bonds and gold rallying hard. This was driven mounting fears regarding the spread of the coronavirus, with Europe impacted, notably Italy. Stock averages were under bearish pressures across the globe with technical chart breakouts … Continued
Global financial markets remain fully focused on the coronavirus, with the spread outside of China becoming of growing concern, notably in South Korea and Japan. There has been shift in price action over the past week, however, as global stock averages continued to climb to new cycle and record highs, but at a slightly slowing … Continued
A significant selloff over the past 24 hours in riskier assets with safe haven assets benefiting. This was driven by technical chart breakouts amid growing fears regarding the spread of the coronavirus. Stock indices were under negative pressures, in the US, Asia and Europe, BUT intraday rebounds Thursday/ Friday leave a recovery threat into today. … Continued
A surge for USDJPY over the past 24 hours has reflected both the growing “risk on” theme and a technical breakout to a multi-month high. This has reinforced the US Dollar as “King”, with the US currency already braking to multi-year highs versus the Euro and Australian Dollar in February. The risk is now for … Continued
Global stock indices have staged resilient rebound over the past 24 hours, shrugging off the “risk off” tone from Monday-Tuesday after Apple’s (AAPL) negative guidance from the impact of the coronavirus. This recovery has been assisted by the number of coronavirus cases in China continuing to rise but at a still slower pace (according to … Continued
An erratic tone and a slight dip lower for the Pound against the US Dollar from the end of last week to start this week. But the more recent move Monday-Tuesday has been more a reaction to US Dollar strength after a modest “risk off” tone overnight after Apple (AAPL) warns on coronavirus impact. We … Continued
As we highlighted in last week’s Macro Watch, global financial markets remain fully focused on the coronavirus. Although markets remain on edge, the underlying theme of “risk on” continues to dominate, although punctuated by brief spells of “risk off” with quick, usually brief corrective moves. This was best highlighted last week when during an erratic … Continued
An erratic 24-36 hours for financial market assets, with a shift back to a “risk off” mode on Wednesday-Thursday with a leap in the coronavirus cases in the Hubei province, after a change in the counting methodology. However, markets quickly shifted back to “risk on” mode, as stocks rebounded, recouping losses. In fact, the major … Continued
The GBPUSD Forex rate has been probing higher in a corrective recovery theme this week, with slightly better data coming through on the U.K. economy. However, prior bearish technical signals still leave GBPUSD vulnerable to further losses into this week. GBPUSD day trade outlook: Negative tone A Tuesday-Wednesday rebound above 1.2969/79 resistances, but then stalling … Continued
The recent global risk on/ risk off theme since the eruption of the coronavirus has shifted to a more risk on bias recently, which seen global equities hitting multi-year and record highs, whilst broadly in the FX space, the US Dollar has stayed the strong currency, particularly within G3 (against the Euro and Japanese Yen). … Continued
Rightly or wrongly, but waning concerns regarding the spread of the coronavirus have seen the “risk on” theme full resume this week. This was after a setback in global stock indices and a move into safe havens last Friday after the US Employment report (despite it being stronger than anticipated). Monday has seen the major … Continued
Global financial markets remain fully focused on the spreading coronavirus, with a very erratic tone. As we highlighted in last week’s Macro Watch the global spread of the virus had seen financial markets in “risk off” mode for latter January and into early February with global stock averages plunging lower, whilst safe havens (like U.S. Treasury … Continued
The US Dollar has been broadly firm throughout the latest shift to a “risk on” theme for global equity markets through this week, for the start of February. This has seen GBPUSD accelerating, then grinding lower, particularly with mounting concerns regarding the difficulties that are posed by the trade negotiations with the EU, in a … Continued
Multiple positive signals for global financial markets over the past 24 hours, with fears regarding the spread of the coronavirus easing, rumours of a vaccine, China cutting import tariffs on US goods, and of less significance for markets, the US President surviving the impeachment trial. This has seen US and global stock surge over the … Continued
Global financial markets have been in a very volatile environment over the past 1-2 weeks since the outbreak of the coronavirus. Although the virus continues to spread and the death toll increase, with no significant escalation in the spread of the virus, markets have shifted into “risk on” mode over the past two days. In … Continued
The major global stock averages have been in a very volatile environment over the past 1-2 weeks since the outbreak of the coronavirus. Erratic news flow regarding the virus spreading, alongside mixed message from authorities have caused the all asset classes to flip between “risk on” and “risk off” modes. Also, the US earnings season … Continued
Global financial markets are now fully focused on the new geopolitical threat, the spreading coronavirus, with the Chinese New Year holiday extended into this week to try to assist in containing the virus. The global spread has broadly seen markets in “risk off” mode, seeing global stock averages plunge, whilst safe havens like US Treasury … Continued
Global stock averages have been under negative pressures all week from concerns regarding the coronavirus. However, the downside forces were eased late yesterday after global share indices rebounded after the World Health Organisation painted a less negative picture on the coronavirus than had been expected. Although the outlook for stock indices remains for potential further … Continued
The Monetary Policy Committee (MPC) of the Bank of England (BoE) meet today to decide on interest rates. There is growing expectation for a rate cut, with the market going into this meeting with uncertainty. However, from recent comments from MPC members, it is clear this vote will be closer than recent meetings. Even if … Continued
After the global “risk off” shift due to the spread of the coronavirus Friday-Monday, a strong “risk on” rebound was seen across asset classes Tuesday. This was partially driven by position squaring into the Federal Reserve interest rate announcement today, plus hopes that the coronavirus may not be spreading as quickly as feared, alongside talk … Continued
The global “risk off” shift over the past week with growing concerns regarding the spread of the coronavirus was reinforced on Friday by a significant selloff in US and global stocks and by an aggressive move lower again Monday! In the Forex space, this has seen a flight to quality to the Japanese Yen, sending … Continued
The Middle Eastern tensions that started 2020 and the US-Sino trade war that impacted markets through 2019 seem a distant memory now with the de-escalation in the Middle East and the signing of the US-China phase one trade deal. BUT markets have now focused on a new geopolitical threat, the spreading Wuhan coronavirus. Choppy price … Continued
An aggressive selloff Wednesday into Thursday for the major global stock averages as heightened concerns regarding the China coronavirus saw riskier assets sold. However, a strong intraday rebound was seen, partially driven by the World Health Organisation labelling the outbreak an emergency for China but NOT for the rest of the world, plus from the … Continued
Today’s ECB meeting in the central bank and fundamental spotlight today. No significant announcement is expected, but nerveless, EURUSD is poised at key support levels (see below). In addition, the US Dollar retains a safe haven positivity against most currencies (apart from the Japanese Yen), with increased concerns regarding the Chinese Wuhan coronavirus. EURUSD day … Continued
In our report here last week we highlighted upside risks for the European share indices and for a bias for the German DAX to play catch up with its US counterparts. The major US equity averages continue to forge to new all-time highs, but today has seen the DAX join the party, with a rally … Continued
The Pound Sterling has been trading weak against the US Dollar (GBPUSD) so far in 2020. This has been driven by both UK macroeconomic data disappointing and members of the Bank of England Monetary Policy Committee indicating a potential rate cut. Today’s focus will be on the UK Employment report and for possible further weakness … Continued
After the tensions that began 2020 between Iran and the US with the Middle Eastern airstrikes, a quick and significant de-escalation has seen markets focus back on global economic conditions. The signing of the US-China phase one trade deal on Wednesday had little market impact as we had suggested in last week’s MacroWatch, though markets … Continued
The “risk on” theme continues with global stocks staying strong over the past 24 hours since the signing of US-China trade deal. The US stock averages have soared to new all-time higher with the Dow Jones Industrial Average (DJIA) above the 29000 level and the broad benchmark index, the S&P 500 through 3300. The Q1 … Continued
The Japanese Yen remain under negative pressures with global financial markets continuing their “risk on” theme into the start of 2020. This has seen USDJPY strength over the past week since the de-escalation of tension in the Middle East and leaves the USDJPY forecast for further gains (see the technicals below). The “risk on” theme … Continued
The Pound Sterling has been under downside pressures over the past week and in fact since the start of 2020. This has been driven by three factors with respect to the GBPUSD Forex rate: A more dovish tone from at least three members of the Monetary Policy Committee of the Bank of England, including outgoing … Continued
A surge higher by US and global equity averages to start this week, with the US board benchmark index future, the S&P 500 E-Mini hitting another new record level on Monday and in overnight trading. This has reflected a rejection by markets of fears and negative pressures from an escalation of the conflict that began … Continued
As we highlighted in last week’s MacroWatch, the bullish sentiment that started 2020 was significantly damaged by the increase in geopolitical risks from the U.S. airstrike that killed General Qassem Soleimani, the Iranian Quds Force chief. Moreover, global stock averages plunged lower in the middle of last week as Iran retaliated with airstrikes aimed at … Continued
A further selloff for the Euro over the past 24 hours, leaving risks lower. Global financial markets have seen aggressive volatility so far in 2020 given Middle Eastern tensions, with Gold and Oil markets swinging aggressively, as well as stock averages seeing notable selloffs and recoveries. On the currency side, FX markets have seen a … Continued
Global financial markets have seen some aggressive swings to tart 2020 with the tension in the Middle East, particular on the individual stock and equity index, alongside the Gold and Oil markets. On the Forex side, however, despite a choppy tone to USDJPY and Japanese Yen cross rates (due to the aforementioned tensions and the … Continued
Global financial markets have seen riskier assets plunge and safe havens rally in very volatile activity overnight Tuesday-Wednesday amid an escalation in the tensions in the Middle East. Iran have attempted to strike at US targets in Iraq to intensify the negative, “risk off” theme that started 2020 after the US airstrikes in the Middle … Continued
Global financial markets have attempted to shrug off the more negative, “risk off” theme that started 2020 after the Middle East airstrike by the US last week. This initially saw a significant selloff in riskier assets and a rush into safe havens, like the Japanese Yen, sending USDJPY lower. Despite a rebound in riskier assets … Continued
A truncated trading week to end 2019 and start 2020 last week, with global markets observing holidays during the turn of year. 2019 ended and 2020 initially started by echoing the “risk on” tone from the whole of last year with global stock averages extending the December, Santa rally through the end of year, albeit … Continued