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Trade Ideas

Disclaimer: The views on the posts and charts are for educational and illustration purpose only, as past performance is not necessarily indicative of future performance. They are provided for general information only and therefore should not be taken as any offer or solicitation to do any investment or trade.

Note: Non-Members are strongly recommended to sign up for the online free course to have a better understanding of the setups as discussed below:

Index CFD and Forex Trade Ideas & Chart Analysis (23 – 27 Nov 20)

By Hector in Trade Ideas on 22 November 2020

1.(Hong Kong Index HKD5 CFD)

 

 

 

Big Picture – Bullish

Resistance : 26,774    Support : 25,890

One Good Trade Idea

The market sentiment remains bullish after the index hit a 4 month high. From here, price action may consolidate above the support at 25,890 before it makes another attempt to break the resistance at 26,774. Investors’ risk appetite increases after Pfizer-Biotech announced that vaccine deliveries could start before this Christmas. Traders may continue to buy on a pullback with a price action long signal.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bullish

Resistance : 2,839    Support : 2,707

One Good Trade Idea

The uptrend continues as the bulls charges ahead on hopes of an economic recovery with positives news from the Covid-19 vaccines and the signing of the RCEP trade agreement. Traders may buy above the support at 2,707 for a move towards 2,839 and higher.

 

3.(US Tech 100 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 12,468    Support : 10,671

One Good Trade Idea

While the long term trend remains bullish, the US Tech index remains in the trading range between 10,671 and 12.468 despite positive Covid-19 vaccine headlines. This maybe due to the surging infection cases rising in several US states which may force the authorities to tighten restrictions in the weeks ahead. Traders may buy on weakness with a reversal candle on the pullback.

 

Note:

To trade Index CFD, you may open a CFD Account with Phillip Securities under Hector (XL) as your preferred Trading Representative.

 

4.(GBPUSD)

 

 

 

Big Picture – Bullish

Resistance : 1.3482    Support : 1.2812

One Good Trade Idea

The bias continues to be bullish as post Brexit deal with EU continues to make headlines towards 31 Dec. A trade agreement between EU and UK will be positive for GBP. Traders may prefer to stay on the long side above support 1.2812 and look for a buy signal to enter.

 

5.(NZDUSD)

 

 

Big Picture – Bullish

Resistance : 0.6968    Support : 0.6797

One Good Trade Idea

NZD broke out of the trading range between 0.6488 and 0.6797.  It has been consolidating for the last 4 months and the breakout may signal a continuation of the upward trend. Traders may look for signal to enter long on a pullback for a higher high move towards 0.6968.

 

6.(USDCAD)

 

Big Picture – Bearish

Resistance : 1.3419    Support : 1.2993

One Good Trade Idea

While the bears remains in control, USDCAD appears to be trading within a range between 1.2993 and 1.3419. As the major central bank leaders meet in the G20 Summit, investors may be taking a wait and see approach before new information is released. Traders may prefer to look for sell a signal to enter below the resistance at 1.3419.

 

Note:

To trade Forex, you may first open a MT5 Demo Account under Phillip Futures A/c No (If any) : Hector (VXL)

 

 

 

Happy Trading!
One Good Trade

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