Cup and Handle

Chart courtesy of Metastock & Advanced Get. Data provided by Quote Center and eSignal.

I trust we all made a tidy sum on the AUDCAD yesterday.

After doing my usual scan this morning I have picked up the GBPCAD for a few reasons.

1. The buy signal and golden diamond has shown up this morning on the daily chart.

2. The price has hit around the MOB level.

3. We have a a small degree of convergence on daily MACD.

4. Daily RSI reasched oversold and converged.

5. For the chart pattern enthusiasts, we have a nice cup and handle on the 1 hour and 4 hour charts.

Above we have a confluence of events. The point to note though is watch that MA on the 1 hour chart and couple that with a short term fib level and in addition The Figure, we may have a stubborn resistance.

I was speaking with a friend of mine yesterday who made a few good points I would like to share with you all in tomorrows post.

Oh, as I was asked very nicely, below I have placed yesterdays calendar based information updated with todays information again for you. Some of you are aware how to use this as a trading strategy but for those who are not heres a hint, have a look at the biggest movers.

Currency Value Changes (Calendar-Based)

Today
In general, today the Japanese Yen (JPY) gained the most value, with the US Dollar (USD) gaining the next largest amount against all other G8 currencies.
In general, today the New Zealand Dollar (USD) lost the most value, with the Australian Dollar (AUD) losing the next largest amount against all other G8 currencies.

Current Calendar Week
In general, since the beginning of the current week, the Japanese Yen (JPY) gained the most value, with the Swiss Franc (CHF) gaining the next largest amount against all other G8 currencies.
In general, since the beginning of the current week, the New Zealand Dollar (USD) lost the most value, with the Australian Dollar (AUD) losing the next largest amount against all other G8 currencies.

Current Calendar Month
In general, since the beginning of the current month, the Canadian Dollar (CAD) gained the most value, with the Australian Dollar (AUD) gaining the next largest amount against all other G8 currencies.
In general, since the beginning of the current month, the New Zealand Dollar (USD) lost the most value, with the Japanese Yen (JPY) losing the next largest amount against all other G8 currencies.

Current Calendar Year
In general, since the beginning of the current year, the Canadian Dollar (CAD) gained the most value, with the Australian Dollar (AUD) gaining the next largest amount against all other G8 currencies.
In general, since the beginning of the current year, the US Dollar (USD) lost the most value, with the Japanese Yen (JPY) losing the next largest amount against all other G8 currencies.

Currency Value Changes (Trading-Based)

Today
In general, today the Japanese Yen (JPY) gained the most value, with the US Dollar (USD) gaining the next largest amount against all other G8 currencies.
In general, today the New Zealand Dollar (USD) lost the most value, with the Australian Dollar (AUD) losing the next largest amount against all other G8 currencies.

Recent Trading Week
In general, over the most recent tradable week (not calendar week) the Euro (EUR) gained the most value, with the Japanese Yen (JPY) gaining the next largest amount against all other G8 currencies.
In general, over the most recent tradable week (not calendar week) the New Zealand Dollar (USD) lost the most value, with the Australian Dollar (AUD) losing the next largest amount against all other G8 currencies.

Recent Trading Month
In general, over the most recent tradable month of time (not calendar month) the Australian Dollar (AUD) gained the most value, with the New Zealand Dollar (USD) gaining the next largest amount against all other G8 currencies.
In general, over the most recent tradable month of time (not calendar month) the Japanese Yen (JPY) lost the most value, with the US Dollar (USD) losing the next largest amount against all other G8 currencies.

Recent Tradable Year
In general, over the most recent tradable year of time (not calendar year) the Australian Dollar (AUD) gained the most value, with the Canadian Dollar (CAD) gaining the next largest amount against all other G8 currencies.
In general, over the most recent tradable year of time (not calendar year) the US Dollar (USD) lost the most value, with the Japanese Yen (JPY) losing the next largest amount against all other G8 currencies.

Hope you all have a great day.