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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 (29 – 03 Jul 20 )

By Hector in Trade Ideas on 28 June 2020

1.(Hong Kong Index HKD5 CFD)

 

 

 

Big Picture – Neutral

Resistance : 24,873    Support : 22,505

One Good Trade Idea

The turmoil in US markets take it toll on our asia markets here. This is after a spike in coronavirus cases in US which forced some states to backtrack on reopening their economies. HKI is back in the trading range again below 24,873 and is likely to consolidate further towards the 22,505 support. Traders may wait for further pullback towards this support to buy.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Neutral

Resistance : 2,671    Support : 2,501

One Good Trade Idea

Similarly for STI , the bias remains neutral as further weakness is expected to retest the support at 2,501. Traders may look for a bounce from this support to buy and sell towards the higher end of the range near at 2,671.

 

3.(US SP500 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 3,134    Support : 2,972

One Good Trade Idea

While the uptrend bounce from the low of March remains intact, a break of the support at 2,972 may signify the end of the recovery. The bulls need to hold above this support if the pivotal 3000 mark breaks next week. Otherwise, it will turn bearish and expose the next lower support at 2,725.

 

Note:

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

 

 

4.(EURGBP)

 

 

 

Big Picture – Bullish

Resistance : 0.9499    Support : 0.9000

One Good Trade Idea

The trend remains bullish as EURGBP continues to climb higher. After consolidating at the 0.9000 mark for most of last week, it propelled out of the consolidation range last Friday. Traders may continue to buy this pair with a price action long signal. Target move is towards 0.9499 resistance.

 

5.(NZDUSD)

 

 

Big Picture – Bullish

Resistance : 0.6477, 0.6755    Support : 0.6175

One Good Trade Idea

The bias remains bullish while price actions respect the blue uptrend line. Short term weakness remains and may pullback lower to test the trendline support. Traders may look out for a bullish reversal candle to buy above the support line. The target move is to retest the 0.6477 resistance and reach the 0.6755 level.

 

6.(XAUUSD)

 

 

Big Picture – Bullish

Resistance : 1,800    Support : 1,765, 1,659

One Good Trade Idea

XAUUSD bulls finally cleared the range top 1,765 last week and is likely to head higher towards 1,800 resistance in the coming weeks. Traders may consider to buy on the dips with a price action long signal and take profit on higher breakout before the pullback.

 

Note:

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

 

 

Happy Trading!
One Good Trade

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