Following my resent analysis on the Euro against the Cad, here is a bullish bat for the New Zealand Dollar. The NZD, like the euro, has seen some strength in past weeks- however it has began to pull back slightly. This loss of momentum has aided the rapid decline in its value against the Canadian dollar, along with the BoC interest rate rise. This decline has...
Here we have a bullish shark on the Euro/Canadian Dollar. The interest rate hike came as a surprise but we should not be shocked by the strength of the Canadian dollar. Against the USD on the daily and weekly charts there is a clear Elliot Wave, showing clear optimism for the currency. (See idea below, logged 8 months in advance). The Cad has gained value across...
Above we have a possible long position on the Pound-Dollar, through a bullish Cypher set up. The X point is taken from the decisive push of an impulse wave that broke a symmetrical triangle. The X and D point now both sit along a pivot line- an area where we previous had an inverted head and shoulders! Please see the chart below for generic analysis. As always...
This week on the pound-yen we have a bullish bat . The USDJPY and GBPJPY have entered into a consolidating phase, both sitting at a level of support, with the GBPJPY itself is currently sitting at what can be argued as a pivot level to a previous 5-O formation. This is a key area worth watching! Stepping away from the chart, we have the GBP GDP and JPY CPI...
After closing me previous EURAUD short, I have taken another position, but yet to post analysis (it may not be too late to enter!) This pair is showing us a 3-drive pattern, where most would look to go long after the 3rd drive completion. However, as stated in the previous AUDUSD and Silver trades, we here at Six Figure Capital look to trade the third drive....
Here on the 4 hour chart we have what some would see as a bullish 3-drive pattern. However, in recent times, I have had more success trading the third wave (as suggested by my friend @LewisGlasgow ). In this pattern the first retracement hit the 0.618 level, thus I will look for the second to do the same at the top of the channel. Should price hit the zone, I...
This pair has produced solid head and shoulders pattern right below a key resistance level. Price is overbought due to the urgency of the rise since the last touch of the trend line and may reverse due to an imbalance of price:value. That noted, this is due to the increase of the BoC interest rate from 0.5 to 0.75. As capital flows to Canada we will see...
Here we have a bearish bat on the NZDJPY. The pair is hitting major weekly resistance and showing as oversold on the daily chart. American investment banks Goldman Sachs and JP Morgan are expected to show slow quarterly growth this afternoon, amidst speculation heading towards this afternoons US CPI announcement (US still not making their 2% target). As a result,...
The market as been really quiet over the past month or so- here is a small trade I may consider in the morning. We have a short bat on the pound-dollar. Price is reaching a level of resistance where price has recently bounced (see below). The Support/Resistance zone drawn using the black horizontal lines is the area in which I would be looking to enter into a...
In correlation with my last post, for the same fundamental reasons, I have also shorted the NZDUSD. On the technical side, the pair has reached the top of a channel and formed a bearish Shark. I already managed to get an entry at 0.729 after price hit the D point during the announcement of the US Fed decision rate last week. As always for a shark pattern: TP...
Tonight at 22:00 (GMT+1; London) we will see the release of the Interest rate decision from the Royal Bank of New Zealand (RBNZ). There is widespread all-but-certainty that this rate will sit static at 1.75% due to to soft economic growth amidst debated inflationary pressures. It has been whispered that depreciation is key to economic growth domestically within...
Tonight I'm looking at a short cypher on the euro-aussie. Price is meeting the trend line which has been hit by previous highs. Cypher ratios: B: 0.382-.618 C: 1.272-1.414 xD: 78.6%
Hi guys, today we have a near-perfect gartley on the 1hr chart of the NZDCAD. The pattern is just as well on the 4hr but price is very volatile and the movement can be more clearly justified in the 1hr. Now, as volatile a pair as we are presented with, price is consecutively making lower highs- which can be seen vividly on the 4hr and even daily chart (after the...
Here we have a bearish bat on the 4 hour chat of the euro-cad. Looking at the daily chart, there has been action around the X and D points previously. Price has already dipped form the D point and looks to be making a double top! Looking through the euro across the market, all the euro pairs look ready to drop- especially those with a harmonic pattern (see...
The weekly chart here showing the possible future movement of the dollar-cad. Price is currently still on the 2nd wave of the correction period; I'm expecting a push towards 1.38 (61.8% of the 1st correction wave & previous resistance) before the steady decrease towards the 1.2 area, retesting previous support, to complete the cycle. The 1.2 mark is also slightly...
Here is a combination of 2 setups for this pair. On a larger frame we have an Elliot wave, with a bearish crab approaching resistance. The Elliot wave has completed its impulse and has began correction. Price has pushed to the 0.618 retracement level of the first correction wave- which is also within the vicinity of a bearish crab. If this trade comes in, I will...
In this episode we are looking at a bearish bat on the euro-pound! Price has consolidated a little between the A, B and C coordinates, giving great shape to the movement. The D point is forming in an area where price has previously bounced- if the weekly chart is anything to go by, there has been a lot of action around this level. As always, I'm drawing the...
In this episode we are looking at a bearish bat on the euro-pound! Price has consolidated a little between the A, B and C coordinates, giving great shape to the movement. The D point is forming in an area where price has previously bounced- if the weekly chart is anything to go by, there has been a lot of action around this level. As always, I'm drawing the...