The Greedy Trader Weekly Analysis
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- 3/28/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Daily  MACD line has moved above its signal lineA Parabolic SAR indicator is below and near the priceThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a first positive week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC climbed 0.43 points, or 0.60%, and closed at 72.36 on Thursday, March 28, 2024. It was the best weekly gain since December 22, 2023. Weekly volume was -46% below average.

Long-term trend: [See FXC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 70.03 and reached 74.64 on July 13, 2023. FXC gained -4.61 points, or -6.58%, in 39 weeks. The price is now at the 49.46% retracement level.

Medium-term trend: [See FXC medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 70.35 and reached 74.28 on December 27, 2023. FXC gained -3.93 points, or -5.59%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (72.20) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 FXC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 December 27, 2023 at 74.28 and reached 71.89 on March 5, 2024. FXC lost 2.39 points, or 3.22%, in 69 days. The price is now at the 19.67% retracement level.

Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

A Parabolic SAR (stop and reversal) indicator (72.57) comes close to the price (72.36). 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 price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.09
Williams' Percentage Range (W%R) 72.70
Lane's Stochastic (%D-Slow) 30.48
Greed/Fear Indicator (GFI) 35.28
Moving Average Converg./Diverg. (MACD) -0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.92
Williams' Percentage Range (W%R) 59.20
Lane's Stochastic (%D-Slow) 24.32
Greed/Fear Indicator (GFI) 36.93
Moving Average Converg./Diverg. (MACD) 0.01
Trading Signals
Description Value Chart
Upper Bollinger Band 72.75
Parabolic System 72.57
50 Day Moving Average 72.43
Price 72.36
20 Day Moving Average 72.27
Weekly Trendline Support 72.20
Weekly Stochastic Crossing 72.20
Daily Stochastic Crossing 72.16
Weekly Trendline Resistance 72.15
Lower Bollinger Band 71.82
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 74.28
High Date 12/27/2023
Low 71.89
Low Date 03/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 72.15
Support 72.20
Low 70.35
Low Date 11/01/2023
High 74.28
High Date 12/27/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 74.64
High Date 07/13/2023
Low 70.35
Low Date 11/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 70.03
Low Date 10/13/2022
High 74.64
High Date 07/13/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.77
High Date 06/01/2021
Low 70.03
Low Date 10/13/2022
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.