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Currency Shares ETFs Technical AnalysisArchive
- 3/17/2023 -
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CurrencyShares Canadian Dollar Trust (FXC) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC climbed 0.38 points, or 0.54%, and closed at 71.16 on Friday, March 17, 2023. It was the best weekly gain since January 27, 2023. Weekly volume was 210% above 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 73.77 on November 11, 2022. FXC gained -3.74 points, or -5.34%, in 4 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (73.26) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See FXC medium-term trend chart]
A medium-term downtrend had started on February 1, 2023 at 73.63 and reached 70.67 on March 9, 2023. FXC lost 2.96 points, or 4.02%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 70.14 and resistance is at 73.08. 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 medium-term trend.
 Weekly Technical Indicators: [See FXC 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 March 9, 2023 at 70.67 and reached 71.65 on March 14, 2023. FXC gained -0.98 points, or -1.39%, in 5 days. The price is now at the 50.00% retracement level.
 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 above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
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 (71.69) comes close to the price (71.16). 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.
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