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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 (04 – 08 Feb 19)

By Hector in Trade Ideas on 03 February 2019

1.(Hong Kong Index HKD5 CFD)

Big Picture – Bullish

Resistance : 28 034 Support : 27 306

One Good Trade Idea

Last week , price stayed above the resistance turned support level at 27306 but it wasn’t able to stay above the next resistance at 28304. Although this week will be a short trading week due to CNY, we are looking for a pullback to support level and price action long signal.

 

2.(Wall Street Index USD1 CFD)

Big Picture – Bullish

Resistance : 26 067 Support : 24 236

One Good Trade Idea

With the break of the consolidation above the support last week, we are slight bullish on this index. However, last Fri closed with a short doji candle may signal that price may pullback to support at 24, 236. Look for a price action buy signal to go long.

3.(NZDUSD)

Big Picture – Bullish

Resistance : 0.6969 Support : 0.6848

One Good Trade Idea

Price has broken earlier pivot at 0.6848 and we are bias on the long side. Look for opportunities if it pullback to support to buy with a price a price action signal.

 

4.(USDCAD)

Big Picture – Bearish

Resistance : 1.3179 Support : 1.2969

One Good Trade Idea

Previous support at 1.2969 has broken last Wed and price is likely to go lower. Consider selling on any strength to near resistance at 1.3179 with a price action sell signal.

Happy Trading!
One Good Trade

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