The Greedy Trader Weekly Analysis
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Currency Shares ETFs Technical Analysis

Archive
- 5/19/2023 -
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CurrencyShares Australian Dollar Trust (FXA)

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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversoldPrice is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved below its signal line20 Day Moving Average has crossed below the 50 Day Moving AverageLane's Stochastic is oversold
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It was a first positive week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA climbed 0.06 points, or 0.09%, and closed at 65.85 on Friday, May 19, 2023. Weekly volume was -32% 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FXA medium-term trend chart]
A medium-term downtrend had started on February 1, 2023 at 70.66 and reached 65.01 on March 10, 2023. FXA lost 5.65 points, or 8.00%, in 5 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (65.47) 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 medium-term trend.

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 below its signal line since March 3, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 April 26, 2023 at 65.31 and reached 67.30 on May 8, 2023. FXA gained -1.99 points, or -3.05%, in 12 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic 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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.81
Williams' Percentage Range (W%R) 72.90
Lane's Stochastic (%D-Slow) 19.61
Oversold
Greed/Fear Indicator (GFI) 33.18
Moving Average Converg./Diverg. (MACD) -0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.97
Williams' Percentage Range (W%R) 85.10
Oversold
Lane's Stochastic (%D-Slow) 42.51
Greed/Fear Indicator (GFI) 34.59
Moving Average Converg./Diverg. (MACD) -0.25
Trading Signals
Description Value Chart
Upper Bollinger Band 67.22
Parabolic System 66.79
Weekly Stochastic Crossing 66.17
50 Day Moving Average 66.17
20 Day Moving Average 66.08
Price 65.85
Daily Stochastic Crossing 65.68
Weekly Trendline Resistance 65.50
Weekly Trendline Support 65.47
Lower Bollinger Band 65.09
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 65.31
Low Date 04/26/2023
High 67.30
High Date 05/08/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 65.50
Support 65.47
High 70.66
High Date 02/01/2023
Low 65.01
Low Date 03/10/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.39
Low Date 10/14/2022
High 70.66
High Date 02/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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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