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CurrencyShares Australian Dollar Trust
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|It was the negative week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA dropped -1.60 points, or -2.21%, and closed at 70.89 on Friday, February 8, 2019. It was the worst weekly loss since October 5, 2018. Weekly volume was 8% above average. |
Long-term trend: [See FXA long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 81.36 and reached 69.81 on January 3, 2019. FXA lost 11.55 points, or 14.20%, in 48 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 69.59 and resistance is at 72.25. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.
Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on January 3, 2019 at 69.81 and reached 72.93 on January 31, 2019. FXA gained -3.12 points, or -4.47%, in 4 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (71.76) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXA may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 2, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See FXA short-term trend chart]
A short-term downtrend had started on January 31, 2019 at 72.93 and reached 70.86 on February 8, 2019. FXA lost 2.07 points, or 2.84%, in 8 days. Price is near the trend low.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.