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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:

Forex and Index CFD Trade Ideas & Chart Analysis (10 – 14 Feb 20)

By Hector in Trade Ideas on 09 February 2020

1.(FTSE China A50 USD1 CFD)

 

 

  

Big Picture – Bearish

Resistance : 13,482    Support : 12,320

One Good Trade Idea


The bias is bearish after the break of the support at 13,482. The support turned resistance was tested twice last week but the bears defended that level to close lower. For next week, we are likely to see more downward pressure with the fear from the Coronavirus. Traders may sell with a price action sell signal below 13,482 for a move lower towards support at 12,320.

 

2.(Indonesia Index USD1 CFD)

 

 

Big Picture – Bearish

Resistance : 7,258    Support : 6,680

One Good Trade Idea

After pulling back higher from the low of 6,883, price actions towards closing last week provided a hint that the pullback may have ended and price is likely to go lower next week. We have a long bearish body bar with a short inside candle on Thur & Fri respectively. Traders may sell next week for a target move towards 6,680 support.

 

3.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bearish

Resistance : 3,285    Support : 3,144

One Good Trade Idea

STI broke the neckline support at 3,144 briefly on Monday and came up above it. With the gap filled on Thurs followed by a bearish wide range bar on Fri, there is a high chance that the support at 3,144 be tested again next week. A break below it will expose the next support at 3,068.

 

4.(EURUSD)

 

 

Big Picture – Bearish

Resistance : 1.0980    Support : 1.0878

One Good Trade Idea

Last week I wrote about EURUSD here on the pullback towards the broken trend line resistance to sell below it. Price has now reached the first target at 1.0980 and closed lower for the week. Bears remains in control and traders may look to sell on a pullback with a price action sell signal.

 

5.(USDCHF)

 

 

Big Picture – Bullish

Resistance : 1.002    Support : 0.9719

One Good Trade Idea

We have a strong week for the USDCHF pair with 5 consecutive higher daily closes. There is a bullish inverse Head & Shoulder pattern with a close above the neckline on Fri. As long as price remains above 0.9719 support, we may look for signal to buy for a move towards 1.002 resistance.

 

6.(XAUUSD)

 

 

Big Picture – Slightly Bullish

Resistance : 1611    Support : 1554, 1535

One Good Trade Idea

The underlying in Gold is still bullish albeit rather slightly as there is a risk off tone across the various markets. Traders may prefer to buy in the support zone between 1554 and 1535 for a better risk reward ratio towards resistance at 1,611.

 

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)

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