The Greedy Trader Weekly Analysis
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- 10/16/2020 -
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CurrencyShares Australian Dollar Trust (FXA)

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Summary:
Weekly :
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA dropped -1.54 points, or -2.13%, and closed at 70.64 on Friday, October 16, 2020. Weekly volume was 6% above average.

Long-term trend: [See FXA long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 57.50 and reached 73.84 on August 31, 2020. FXA gained -16.34 points, or -28.42%, in 23 weeks. The price is now at the 19.58% retracement level.

Medium-term trend: [See FXA medium-term trend chart]
A medium-term downtrend had started on August 31, 2020 at 73.84 and reached 69.89 on September 25, 2020. FXA lost 3.95 points, or 5.35%, in 3 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 67.48 and resistance is at 71.88. 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 FXA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 2, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 September 25, 2020 at 69.89 and reached 72.18 on October 9, 2020. FXA gained -2.29 points, or -3.28%, in 14 days. The chart has formed a Rising Channel chart pattern.

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. 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.

During the last week, the price has declined below 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.15
Williams' Percentage Range (W%R) 70.80
Lane's Stochastic (%D-Slow) 37.34
Greed/Fear Indicator (GFI) 39.22
Moving Average Converg./Diverg. (MACD) -0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.58
Williams' Percentage Range (W%R) 42.50
Lane's Stochastic (%D-Slow) 40.44
Greed/Fear Indicator (GFI) 49.09
Moving Average Converg./Diverg. (MACD) 1.38
Trading Signals
Description Value Chart
Upper Bollinger Band 72.53
Weekly Trendline Resistance 71.88
Parabolic System 71.87
50 Day Moving Average 71.84
20 Day Moving Average 71.20
Weekly Stochastic Crossing 71.14
Daily Stochastic Crossing 70.87
Price 70.64
Lower Bollinger Band 70.30
Weekly Trendline Support 67.48
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 69.89
Low Date 09/25/2020
High 72.18
High Date 10/09/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 71.88
Support 67.48
High 73.84
High Date 08/31/2020
Low 69.89
Low Date 09/25/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.50
Low Date 03/18/2020
High 73.84
High Date 08/31/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.36
High Date 01/26/2018
Low 57.50
Low Date 03/18/2020
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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