The Greedy Trader Weekly Analysis
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Currency Shares ETFs Technical Analysis

Archive
- 1/20/2023 -
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CurrencyShares Australian Dollar Trust (FXA)

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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal line
Daily :Stochastic has declined below the signal line
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It was the negative week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA gave back -0.14 points, or -0.20%, and closed at 68.95 on Friday, January 20, 2023. Weekly volume was -40% below average.

Long-term trend: [See FXA long-term trend chart]
A long-term downtrend had started on February 25, 2021 at 79.54 and reached 61.39 on October 14, 2022. FXA lost 18.15 points, or 22.82%, in 85 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 58.51 and resistance is at 73.28. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on October 14, 2022 at 61.39 and reached 69.76 on January 18, 2023. FXA gained -8.37 points, or -13.63%, in 13 weeks. The price is now at the 9.68% retracement level.

Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 11, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FXA short-term trend chart]
A short-term uptrend had started on December 20, 2022 at 65.82 and reached 69.76 on January 18, 2023. FXA gained -3.94 points, or -5.99%, in 29 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 67.56 and resistance is at 70.15. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since January 5, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.91
Williams' Percentage Range (W%R) 24.40
Lane's Stochastic (%D-Slow) 74.22
Greed/Fear Indicator (GFI) 70.90
Moving Average Converg./Diverg. (MACD) 0.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.81
Overbought
Williams' Percentage Range (W%R) 11.50
Overbought
Lane's Stochastic (%D-Slow) 82.56
Overbought
Greed/Fear Indicator (GFI) 77.26
Moving Average Converg./Diverg. (MACD) -0.82
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 73.28
Weekly Trendline Resistance 70.15
Upper Bollinger Band 69.98
Daily Stochastic Crossing 69.21
Weekly Stochastic Crossing 69.11
Price 68.95
Parabolic System 68.11
20 Day Moving Average 67.70
Weekly Trendline Support 67.56
50 Day Moving Average 66.90
Lower Bollinger Band 65.86
Quarterly Trendline Support 58.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 68.18
Low Date 01/19/2023
High 69.02
High Date 01/20/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 70.15
Support 67.56
Low 65.82
Low Date 12/20/2022
High 69.76
High Date 01/18/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.39
Low Date 10/14/2022
High 69.76
High Date 01/18/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 73.28
Support 58.51
High 79.54
High Date 02/25/2021
Low 61.39
Low Date 10/14/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 110.99
High Date 07/27/2011
Low 57.50
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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