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 gave back -0.33 points, or -0.47%, and closed at 70.46 on Friday, March 8, 2019. Weekly volume was -14% below 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 69.42 and resistance is at 71.89. 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 downtrend had started on January 31, 2019 at 72.93 and reached 70.04 on March 7, 2019. FXA lost 2.89 points, or 3.96%, in 5 weeks. The price is now at the 14.53% retracement level.
Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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.
The weekly MACD line is above its signal line since November 2, 2018. The distance between MACD and the signal line is low and getting smaller. 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 February 26, 2019 at 71.98 and reached 70.04 on March 7, 2019. FXA lost 1.94 points, or 2.70%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since February 27, 2019. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (70.88) comes close to the price (70.46). 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.