CurrencyShares Canadian Dollar Trust
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|It was a second consecutive positive week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC climbed 0.08 points, or 0.10%, and closed at 77.68 on Friday, December 01, 2017. Weekly volume was -38% below average. |
Long-term trend: [See FXC long-term trend chart]
A long-term uptrend had started on May 4, 2017 at 71.70 and reached 81.48 on September 8, 2017. FXC gained -9.78 points, or -13.64%, in 18 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See FXC medium-term trend chart]
A medium-term downtrend had started on September 8, 2017 at 81.48 and reached 76.37 on October 27, 2017. FXC lost 5.11 points, or 6.27%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (73.33) 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 FXC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 13, 2017. This is an indication that the medium-term trend is down. 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 November 9, 2017 at 77.86 and reached 76.41 on November 30, 2017. FXC lost 1.45 points, or 1.86%, in 21 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (77.63). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 30, 2017. The distance between MACD and the signal line is low and getting smaller.
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.
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.