CurrencyShares Australian Dollar Trust
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|It was a third consecutive positive week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA climbed 0.29 points, or 0.38%, and closed at 75.96 on Friday, June 08, 2018. Weekly volume was -44% 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 74.35 on May 8, 2018. FXA lost 7.01 points, or 8.62%, in 14 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (73.61) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.
Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on May 8, 2018 at 74.35 and reached 76.77 on June 6, 2018. FXA gained -2.42 points, or -3.25%, in 4 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 75.67 and resistance is at 76.67. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 2, 2018. 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 June 6, 2018 at 76.77 and reached 75.84 on June 8, 2018. FXA lost 0.93 points, or 1.21%, in 2 days. The price is now at the 12.90% retracement level.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 11, 2018.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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. 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.