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Downtrend Broken Resist.Archive
- 10/11/2024 -
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CurrencyShares Swiss Franc Trust (FXF) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the CurrencyShares Swiss Franc Trust (FXF). During the week, the FXF climbed 0.19 points, or 0.18%, and closed at 103.73 on Friday, October 11, 2024. Weekly volume was -37% below average.
 Long-term trend: [See FXF long-term trend chart]
A long-term uptrend had started on November 3, 2022 at 88.08 and reached 106.75 on December 28, 2023. FXF gained -18.67 points, or -21.20%, in 60 weeks. The price is now at the 16.18% retracement level.
 Medium-term trend: [See FXF medium-term trend chart]
A medium-term uptrend had started on May 1, 2024 at 96.67 and reached 105.89 on September 18, 2024. FXF gained -9.22 points, or -9.54%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 101.04 and resistance is at 107.18. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FXF weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly 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.
The weekly MACD line is above its signal line since June 14, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See FXF short-term trend chart]
A short-term uptrend had started on October 4, 2024 at 103.25 and reached 104.13 on October 7, 2024. FXF gained -0.88 points, or -0.85%, in 3 days. The price is now at the 45.45% retracement level.
 Daily Technical Indicators: [See FXF daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since August 30, 2024.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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