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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.

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Forex and Index CFD Trade Ideas & Chart Analysis (18 – 22 Mar 19)

By Hector in Trade Ideas on 17 March 2019

1.(Indonesia Index USD1 CFD)

Big Picture – Bullish

Resistance : 7,365    Support : 7,018 – 7,103

One Good Trade Idea

The bias remains bullish as it tested the support level near 6,900 and managed to stayed above the critical 7,000 level. As long as it remains above 7,000, look to long with a price action signal.

2.(Japan 225 Index JPY100 CFD)

Big Picture – Bullish

Resistance : 21,925    Support : 20,800 – 20,970

One Good Trade Idea

Japan 225 pullbacked lower after reaching near resistance at 21,925. However, it managed to stayed above the support at 20,800 and keeps the gentle uptrend slope intact. Wait for price action long signal to enter.

 

3.US Tech 100 Index USD5 CFD

Big Picture – Bullish

Resistance : 7,392    Support : 7,207

One Good Trade Idea

Last week US Tech broke above the resistance near 7,200 and is the new support now. The bias is bullish but the next resistance is nearby at 7,392 and for traders who are not in position yet, better to wait for a pullback to the dynamic 50EMA support for a price action long signal to enter.

4.(EURUSD)

Big Picture – Bearish

Resistance : 1.1419    Support : 1.1215

One Good Trade Idea

The bias is still bearish even though it pulls higher after testing support at 1.1215. It is now in the trading zone below the 50EMA resistance. It may trade higher next week above this dynamic resistance but as long as it remains below 1.1419 resistance, we will be looking for a price action sell signal for entry.

 

5.(GBPJPY)

Big Picture – Bullish

Resistance : 149.48    Support : 144.83

One Good Trade Idea

GBPJPY remains bullish but is nearing the resistance at 149.48 and volatility is high due to Brexit. Wait for a pullback to support at 144.83 to enter long on a price action signal.

 

6.(XAUUSD)

Big Picture – Bullish

Resistance : 1,326    Support : 1,276

One Good Trade Idea

I wrote here on 03 Mar 19 to wait for a pullback to support near 1,276 to enter long. It did go down lower but only to touch 1,280 and came back up above the previous support at 1,298. Although Fri closed above this support, it may trade lower below 1,298 next week and test the lower support near 1,276. Trend remains bullish but will prefer to wait for further confirmation that the  support at 1,298 holds. If not, wait for it to go lower near support at 1,276 for a price action signal to enter long.

Happy Trading!
One Good Trade

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