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Archive
- 7/19/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC gave back -0.52 points, or -0.72%, and closed at 71.24 on Friday, July 19, 2024. Weekly volume was -6% below average.
 Long-term trend: [See FXC long-term trend chart]
A long-term downtrend had started on July 13, 2023 at 74.64 and reached 70.35 on November 1, 2023. FXC lost 4.29 points, or 5.75%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 70.84 and resistance is at 73.85. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See FXC medium-term trend chart]
A medium-term uptrend had started on April 16, 2024 at 70.66 and reached 71.95 on May 20, 2024. FXC gained -1.29 points, or -1.83%, in 4 weeks. The price is now at the 55.04% retracement level.
 Weekly Technical Indicators: [See FXC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See FXC short-term trend chart]
A short-term uptrend had started on June 11, 2024 at 70.94 and reached 71.90 on July 11, 2024. FXC gained -0.96 points, or -1.35%, in 30 days. The chart has formed a Rising Channel chart pattern.
Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. 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 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 price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 touches the lower Bollinger Band. The distance between the Bollinger Bands (0.95%) is close to one year low (1.11%). It is 53.33% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
During the last week, the price 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.
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