Author

Steve Miley

Having spent 2009-2012 as a Director of the Technical Analysis Research Strategy team at Credit Suisse and previously 15 years at Merrill Lynch. He has covered all major asset classes including Rates & Credit, Commodities, G10 & EM currencies and Equity Indices & Sectors.
He has strong relationships across the institutional financial trading spectrum and is the previous Winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy 2013 and Runner Up in 2014. He was also a previous winner of Best FX Research 2012 whilst at Credit Suisse.
Steve holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.


Intermediate

GBPUSD Bucking the FX Trend for a Stronger US Dollar (Post-Election)

Within the Forex world, nearly all of the major currencies have suffered significant erosion versus the US Dollar since the US presidential election result on Wednesday 9th November. However, the GB Pound has been on an upward path since late October versus the US currency. Although GBPUSD (Cable) did suffer a minor setback on Wednesday, … Continued

Intermediate

USDCAD Still Pointing Higher Post-US Election (Despite Oil Rebound)

USDCAD managed to push higher to another new cycle high this week after the US election result. This move is all the more impressive given that there was a rebound in the oil price (see the Brent Crude Future chart below). Usually, the correlation would be for a higher oil price to benefit the Canadian … Continued

Intermediate

AUDUSD Threatening a Bullish Shift; NZDUSD Questioning Bear Bias

US dollar weakness has emerged through early November, primarily driven by the erosion to US (and global) equity markets in reaction to both concerns regarding the US Presidential election and also a far from encouraging earning season. Read more market analyses   Daily S&P 500 Future Chart This has allowed for AUDUSD to push towards … Continued

Intermediate

USDCAD Bullish (Even Without a Bearish Oil Signal)

USDCAD surged to another new cycle high for H2 2016 over the past week. Having signalled a more bullish shift back in early October, the recent setback questioned the bullish intermediate-term outlook. But the strong recovery effort from ahead of support at 1.2996 to the new recovery high has indicated a re-energised bullish team for … Continued

Intermediate

USDJPY Double Bottom signals higher price action into mid-Q4

The US Dollar has rejected weakness seen throughout September for a more positive tone across G10 currencies from late September into early and mid-October. Furthermore, USDJPY gains have rejected a potential bearish continuation below support at 99.51 and 99.00, but more importantly the rebound has signalled a more bullish outlook for the second half of … Continued

Intermediate

EURUSD range breakout hints at longer term bearish threat to parity!

The US Dollar has displayed a far more bullish tone from late September, but particularly now through early October, with growing expectations of a rate hike from the Federal Reserve into the end of the year, likely in December. Furthermore, the perception of a more hawkish Fed into 2017 could encourage ongoing US$ gains for … Continued

GBPUSD “Flash Crash” and Bear Risks

A so called “Flash Crash” for GBPUSD at the start of the Asian trading day on Friday (7th October). But what is a “Flash Crash”, what potentially caused it and what is the impact for Cable (GBPUSD) going forward?   What is a “Flash Crash”? A “Flash Crash”, is a term used to describe an … Continued

Bank of England Rate Cut has only minor negative impact on the GB Pound

Video Analysis The technical threat is mounting for an intermediate-term bull tone into mid-September, signalled by a break above 1.3534. UK data continues to surprise on the upside, most recently on Monday 5th September with the Services Sector Purchasing Managers Index (PMI) survey for the UK which bounced back from 47.4 in July to 52.9 for August. … Continued

USDCAD Surging Rebound post-Employment reports

Video Analysis An aggressive rally through the US and Canadian Employment reports on Friday (5th June) has seen both a short-term bullish shift and also threat of an intermediate-term bullish switch into mid-August (see above 1.3296). Read more forex market forecasts A prod below the 1.3000 support low from late July on Thursday (to 1.2995), … Continued

Bank of England Rate Cut has only minor negative impact on the GB Pound

Video Analysis An extremely dovish outcome from the Bank of England Meeting on Thursday, with a rate cut and additional quantitative easing. Although technical supports were breached (1.3279, 1.3226, 1.3168, 1.3149), stronger foundations in the 1.3070/57/47 area have held. This leaves bias in the very near term for a rebound, back maybe towards the upper … Continued