fbpx

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:

Forex and Index CFD Trade Ideas & Chart Analysis (09 – 13 Mar 20)

By Hector in Trade Ideas on 08 March 2020

1.(FBM KLCI MYR10 CFD)

 

  

 

Big Picture – Bearish

Resistance : 1,516    Support : 1,454

One Good Trade Idea

The bias is bearish with the political uncertainties adding to the woes in the economy slow down and Covid 19 infections. Traders may prefer to sell on a pullback below the 1,516 resistance with a price sell signal for a target move to 1,454 support.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bearish

Resistance : 3,112    Support : 2,955, 2,528

One Good Trade Idea

The bearish outlook remains as STI is approaching critical support at 2,955. Above is the longer term monthly chart with the support at 2,955 printed in Oct 2018. While we still have a few weeks to go to determine the monthly close for Mar 2020, a break of this support will expose the support at 2,528, the low back in Feb 2016.

 

3.(US Tech 100 Index USD5 CFD)

 

 

Big Picture – Bearish

Resistance : 8,916    Support : 8,165

One Good Trade Idea

The trend is short term bearish after breaking the support at 8,916. Last week tradings were extremely volatile with 1000 point swings in the Dow and the tech index is not spared either. For next week, the support at 8,165 may be tested again. This confluence area will be a battle between the bulls and bears. If it breaks lower, it will expose the lower support at 7,454. Traders may prefer to sell higher below the resistance near 8,916 with a price action sell signal.

 

4.(AUDUSD)

 

 

 

Big Picture – Bearish

Resistance : 0.6676    Support : 0.6433

One Good Trade Idea

The outlook remains bearish for the AUD as RBA hints at further easing if necessary to cope with the slowing export oriented economy. The US rate cut last week by 50 basis points has helped it to pullback higher towards the previous support now turned resistance at 0.6676. Traders may look for a price action sell signal below this resistance for the target move back to 0.6433 support.

 

5.(EURGBP)

 

 

Big Picture – Slightly Bullish

Resistance : 0.8575    Support : 0.8276

One Good Trade Idea

EURGBP broke out of the consolidation range between 0.8276 – 0.8575 as investors reversed out of their carry trades.  For next week, it may pullback lower to test the bulls at the 0.8575 support. Any close below it could means bulls’ reluctance in their commitment. Traders may look for price action signal in the area for the next move to follow. A false breakdown followed by a bullish candle above 0.8575 is a signal to buy. On the flip side, a bearish engulfing candle close below 0.8575 is likely to see it trading back in the lower range.

 

6.(EURUSD)

 

 

Big Picture – Bullish

Resistance : 1.1411    Support : 1.1238, 1.1095

One Good Trade Idea

The trend is bullish as Euro surged higher for a second week. It broke resistance level at 1.1238 and it is the new support. It may pullback lower to 1.1095 and traders may look out for buying opportunity above this level. The target move is towards higher resistance at 1.1411.

 

Happy Trading!
One Good Trade

 

Note:
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)

 

 

Do you want more trade setup ideas and chart analysis delivered to you? In the Member's Area, we discuss more potential trade setup ideas on stocks of SGX, HKSE, NYSE, NASDAQ, World Indices, Forex and Commodities. It is Free! Sign Up!