Trade Ideas

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Forex and Index CFD Trade Ideas & Chart Analysis (06 – 10 Apr 20)

By Hector in Trade Ideas on 05 April 2020

1.(Japan 225 Index JPY100 CFD)




Big Picture – Bearish

Resistance : 19,655    Support : 16,060

One Good Trade Idea

After the injection of stimulus packages from governments to their economies, the rebounds from the recent lows may have weakened with resistance looms overhead. The delay in Tokyo Olympic Games added another blow to Japan’s economy. Traders may sell on pocket of strength below 19,655 with a price action short signal below this resistance.


2.(Strait Times Index SGD5 CFD)



Big Picture – Bearish

Resistance : 2,528    Support : 2,208

One Good Trade Idea

With stricter measures and ‘Circuit breaker’ introduced in Singapore, the bulls left in STI will have more work to do in order to clear the resistance level at 2,528. The bias remains bearish and price action may continues downwards. Traders may look for signals to sell below the resistance near 2,500 for a 300 points target move to support near 2,200. If 2,200 support breaks, it will expose the next lower support at 2,000.


3.(Wall Street Index USD1 CFD)



Big Picture – Bearish

Resistance : 22,679    Support : 18,208

One Good Trade Idea

The downtrend continues as mounting worries and dismal jobs report added pressures to US equities last week. Despite the US$2 Trillion stimulus package announced, economists think it may not be sufficient if the recession deepens. Price action is retreating lower from the resistance at 22,679 and may need another stimulus injection to clear it. Traders may prefer to sell with a clear price action signal below 22,679 resistance.






Big Picture – Slightly Bullish

Resistance : 0.9019    Support : 0.8744, 0.8595

One Good Trade Idea

The bias is slightly bullish as EURGBP has pulled back to the 0.8744 support and closed higher on Friday after 8 days of lower close. It coincided with the the 61.8% retracement from the last pivot high and we may see it stabilises and moves higher. Traders may wait for a reversal signal to enter long as it move into the support zone.





Big Picture – Bearish

Resistance : 1.2484    Support : 1.1409

One Good Trade Idea

The trend remains bearish after another rejection to clear above the resistance near 1.2484. As long as price remains below this resistance, traders may continues to look for a price action sell signal to enter. The target move is back towards support at 1.1409.




Big Picture – Bearish

Resistance : 0.5996, 0.6069    Support : 0.5468

One Good Trade Idea

After the recovery from the recent low of 0.5468, the China-proxy NZD came under renewed selling at the resistance zone below 0.6069. The trend remains bearish and traders may prefer to sell on pocket of strength with a price action signal. The target move is toward support at 0.5468.


Happy Trading!
One Good Trade


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

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

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