CFD Spy - Online Trading Blog

EURUSD remains in downtrend from 1.3242

forexcycle — Fri, 24 May 2013 03:21:13 +0000

EURUSD remains in downtrend from 1.3242, the price action from 1.2796 is treated as consolidation of the downtrend. Range trading between 1.2796 and 1.2998 would likely be seen in a couple of days. Key resistance is at 1.2998, as long as this level holds, the downtrend could be expected to resume, and one more fall [...]

5 Key Indicators To Watch – CFD Trading

trader — Wed, 22 May 2013 15:31:42 +0000

Whatever traders and investors contemplate in trading, here are five main indicators that should help traders evaluate market conditions. 1. Bond Yields On the T-bill front, with the near end of the second cycle of quantitative easing (QE2) and the Federal Reserve pulling away from the support of the US Treasuries, one would anticipate that [...]

EURUSD’s rise from 1.2796 extends to 1.2938

forexcycle — Wed, 22 May 2013 03:11:19 +0000

EURUSD’s rise from 1.2796 extends to as high as 1.2938. However, the rise is likely consolidation of the downtrend from 1.3242. Resistance is located at the upper line of the downward price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to [...]

USDCAD pulls back from 1.0312

forexcycle — Tue, 21 May 2013 02:33:42 +0000

Being contained by 1.0341 resistance, USDCAD pulls back from 1.0312. However, the fall is likely consolidation of the uptrend from 1.0013, one more rise to re-test 1.0341 resistance is possible, a break above this level will signal resumption of the longer term uptrend from 0.9632 (Sep 14, 2012 low), then next target would be at [...]

Five-year record high for FTSE as HSBC boosts its earnings

trader — Mon, 20 May 2013 06:04:01 +0000

A rush in the banking shares raised Britain’s top share index to an astounding five-year high yesterday following a reported estimate-beating results in one of Europe’s biggest lender, HSBC. Shares in HSBC went up as much as 3 % after the bank posted a near doubling effect during its first quarter earnings, garnering the benefits of [...]

Gold Shifting: Possibly on a going down trend

trader — Fri, 17 May 2013 02:01:53 +0000

Just recently, the precious yellow metal has begun to show ill signs of its value as the global inflation remains in control and that market sentiment still prevails which in turn gold trading looks to become a losing commodity. With a lot of equities markets hitting global trade, investors are now searching for more risks [...]

USDCAD is facing channel resistance

forexcycle — Fri, 17 May 2013 01:07:13 +0000

USDCAD is facing the resistance of the upper line of the price channel on 4-hour chart, a clear break above the channel resistance will indicate that the downtrend from 1.0341 (Mar 1 high) had completed at 1.0013 already, then the following upward movement could bring price to 1.0500 area. On the downside, as long as [...]

USDJPY continues its upward movement from 98.58

forexcycle — Wed, 15 May 2013 02:08:07 +0000

USDJPY continues its upward movement from 98.58, and the rise extends to as high as 102.42. Support is at 101.20, as long as this level holds, the uptrend could be expected to continue, and next target would be at 104.00 area. On the downside, a breakdown below 101.20 will suggest that consolidation of the uptrend [...]

GBPUSD breaks below trend line support

forexcycle — Tue, 14 May 2013 03:23:03 +0000

GBPUSD breaks below the support of the upward trend line from 1.4831 to 1.5034, suggesting that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already. The pair is now in downtrend from 1.5605. Further decline would likely be seen over the next several days, and next target would be at 1.5150 area. [...]

GBPUSD is testing trend line support

forexcycle — Mon, 13 May 2013 01:46:06 +0000

GBPUSD is testing the support of the upward trend line from 1.4831 to 1.5034, a clear break below the trend line support will indicate that the uptrend from 1.4831 (Mar 12 low) had completed at 1.5605 already, then the following downward movement could being price to 1.5000 zone. On the upside, as long as the [...]

USDCAD remains in downtrend from 1.0293

forexcycle — Fri, 10 May 2013 02:10:27 +0000

USDCAD remains in downtrend from 1.0293, the price action from 1.0051 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 1.0000 is possible. On the [...]

Pundits’ hedge bets on global shares while Australian dollar remains strong

trader — Thu, 09 May 2013 07:10:13 +0000

Speculators view at most that financial institutions will be overvalued the Australian dollar, a position most institutions have remained neutral for going on a year since the currency has been traded around record highs against the US dollar. For many investors with several allocations to different overseas utilises who are subscribing to this position would [...]

GBPUSD is in uptrend from 1.4831

forexcycle — Thu, 09 May 2013 03:53:58 +0000

GBPUSD is in uptrend from 1.4831 (Mar 12 low), the fall from 1.5605 is treated as consolidation of the uptrend. Initial support is at 1.5447, and the key support is located at the upward trend line from 1.4831 to 1.5034. As long as the trend line support holds, the uptrend could be expected to resume, [...]

GBPUSD breaks below 1.5469 support

forexcycle — Wed, 08 May 2013 02:50:04 +0000

GBPUSD breaks below 1.5469 support, suggesting that consolidation of the uptrend from 1.4831 (Mar 12 low) is underway. Deeper decline would likely be seen, and the target would be at the upward trend line from 1.4831 to 1.5034. Key resistance is at 1.5605, only break above this level could trigger another rise to 1.5800 zone. [...]

FTSE goes up as new results cuts the odds of the ECB rate decline

trader — Tue, 07 May 2013 05:59:43 +0000

The UK’s top share index went up as a result of the energy and mining stocks following the inflation results from the United States and Europe further heightened expectations of more work from the central banks to help revive the economy. The data are closely represented by the FTSE 100 which closed up 31.60 points [...]

GBPUSD remains in uptrend from 1.5197

forexcycle — Mon, 06 May 2013 02:53:03 +0000

GBPUSD remains in uptrend from 1.5197, the fall from 1.5605 is likely minor consolidation of the uptrend. Support is at 1.5465, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.5700 area. On the downside, a breakdown below 1.5465 will indicate that consolidation of the [...]

USDCAD remains in downtrend from 1.0293

forexcycle — Fri, 03 May 2013 04:08:19 +0000

USDCAD remains in downtrend from 1.0293, the rise from 1.0051 is likely consolidation of the downtrend. Resistance is at 1.0145, as long as this level holds, another fall could be expected after consolidation, and a breakdown below 1.0051 could signal resumption of the downtrend. On the upside, a break above 1.0145 will suggest that the [...]

Options Premiums: Are they worth spending?

trader — Thu, 02 May 2013 06:00:24 +0000

One of the most astonishing aspects of options trading is the decision whether the forecast for future volatility rooted in the option premium you are buying is a reasonable purchase. If the volatility over the course of the holding timeframe for your existing option proves to be lesser than the implied volatility it can be [...]

USDJPY continues its sideways movement

forexcycle — Thu, 02 May 2013 02:37:28 +0000

USDJPY continues its sideways movement in a range between 95.83 and 99.94. As long as 95.83 support holds, the price action in the range is treated as consolidation of the uptrend from 77.14 (Sep 13, 2012 low), one more rise towards 105.00 could be expected after consolidation, and a break above 99.94 could signal resumption [...]

Pros and Cons of the Single Currency

trader — Tue, 30 Apr 2013 07:01:52 +0000

The Euro is currently the most notable and highly divisive currency in Europe. The Eurozone, which consists of 17 affiliate members, adopted the euro as their common dominating currency and exclusive tender within the confines of the monetary union. Currently the members include: Spain, Austria, Slovenia, Belgium, Slovakia, Cyprus, Portugal, Estonia, Netherlands, Finland, Malt, France, [...]