We bring those looking at forex spread betting a roundup of technical views on the forex markets.

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The Euro / Canadian Dollar pair has signaled a MACD Crossover say the analyst team at spread betting firm Delta Index.

Based on the signal Delta suggest EUR CAD is a Buy at 13558 with a Stop being placed at 13415, with an initial target set at 13823.

Moving Average Convergence-Divergence Indicator (MACD) work well in trending markets as it is a traditionally lagging indicators which becomes a momentum oscillator.

The “Achilles heel” of this crossover system is that you get a lot of false (ie losing) signals in choppy markets.

So anyone looking to get involved in forex spread betting on such a basis should take into account the nature of the market at present.

Forex Yard, the online forex trading providers give the following insight into the more popular pairs:

EUR USD

"The pair continues to move higher and broke above the 1.3100 level but stopped short of 1.3120 which coincides with the 38.2% Fibonacci retracement from the previous bearish trend that began in December of 2008.

"Should the pair move above the 38.2% retracement, the next major Fibonacci level of 50% rests in line with the resistance level at 1.3500. Short term resistance comes in at 1.3240.

GBP USD

"Quiet trading had the pair in a tight range and ended in a doji candlestick formation as the pair rose to a new high at 1.5561 before falling back to the support level at 1.5575.

"Momentum appears to be behind the pair as the Momentum (7) indicator reached a new high yesterday, in step with the new high for the bullish trend. The next resistance levels rest at 1.5725 followed by 1.5820."