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Currency Shares ETFs Technical Analysis

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- 9/18/2020 -
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CurrencyShares Canadian Dollar Trust (FXC)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtTrend resistance at 74.54
Daily :Williams' Percentage Range is oversoldA Parabolic SAR indicator is below and near the pricePrice is close to the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC gave back -0.07 points, or -0.09%, and closed at 74.62 on Friday, September 18, 2020. Weekly volume was -63% below average.

Long-term trend: [See FXC long-term trend chart]
A long-term downtrend had started on September 8, 2017 at 81.48 and reached 67.34 on March 18, 2020. FXC lost 14.14 points, or 17.35%, in 131 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (74.54). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See FXC medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 67.34 and reached 75.61 on August 31, 2020. FXC gained -8.27 points, or -12.28%, in 23 weeks. The price is now at the 11.97% retracement level.

Weekly Technical Indicators: [See FXC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See FXC short-term trend chart]
A short-term downtrend had started on August 31, 2020 at 75.61 and reached 74.42 on September 8, 2020. FXC lost 1.19 points, or 1.57%, in 8 days. The price is now at the 16.81% retracement level.

Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.

The daily MACD line is below its signal line since September 2, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (74.92) comes close to the price (74.62). It indicates that the trend is getting weaker. 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.

The price is close to 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.47
Williams' Percentage Range (W%R) 83.30
Oversold
Lane's Stochastic (%D-Slow) 30.09
Greed/Fear Indicator (GFI) 29.74
Moving Average Converg./Diverg. (MACD) 0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.33
Williams' Percentage Range (W%R) 16.80
Overbought
Lane's Stochastic (%D-Slow) 84.73
Overbought
Greed/Fear Indicator (GFI) 75.29
Moving Average Converg./Diverg. (MACD) 0.28
Trading Signals
Description Value Chart
Upper Bollinger Band 75.37
Weekly Stochastic Crossing 75.20
Parabolic System 74.92
20 Day Moving Average 74.90
Price 74.62
Daily Stochastic Crossing 74.61
Quarterly Trendline Resistance 74.54
50 Day Moving Average 74.14
Lower Bollinger Band 74.06
Quarterly Trendline Support 65.28
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 74.84
High Date 09/17/2020
Low 74.57
Low Date 09/18/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 75.61
High Date 08/31/2020
Low 74.42
Low Date 09/08/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 67.34
Low Date 03/18/2020
High 75.61
High Date 08/31/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 74.54
Support 65.28
High 81.48
High Date 09/08/2017
Low 67.34
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 105.59
High Date 07/27/2011
Low 67.34
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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