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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:

Index CFD and Forex Trade Ideas & Chart Analysis (07 – 11 Dec 20 )

By Hector in Trade Ideas on 06 December 2020

1.(Hong Kong Index HKD5 CFD)

 

 

 

Big Picture – Bullish

Resistance : 26,774, 28,019    Support : 25,890

One Good Trade Idea

The bias remains bullish as vaccine news underpins investors sentiment last week. Investors’ confidence is also boasted by the data from the Hong Kong’s manufacturing activity for Nov which hit 50.1, the highest since Apr 2018. Traders may continue to buy on a pullback above 25,890 support with a price action signal.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bullish

Resistance : 2,891    Support : 2,707

One Good Trade Idea

After the recent pullback to 2,792, the trend in STI may continue to trade higher for another attempt to break the resistance at 2,891. Following the announcement of 3 viable vaccines, investors may continue to put risk on the table. Traders may prefer to buy above 2800 round number support or near 2,707 for a breakout above 2,891.

 

3.(US Tech 100 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 12,468, 12,800    Support : 12,091

One Good Trade Idea

The bulls in US Tech remain in control as the index hovers at recent highs near 12,468. Besides the positive vaccine news from Pfizer and Moderna, investors are also looking forward to the stimulus package and hoping for a deal to be struck by end of the year. Traders may continue to look for opportunities to enter long, if not in position yet, with any pullback above 12,091 Support.

 

Note:

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

 

 

4.(AUDUSD)

 

 

 

Big Picture – Bullish

Resistance : 0.7413, 0.7676    Support : 0.7339

One Good Trade Idea

AUDUSD broke above the resistance at 0.7413 last Thur. Sentiment remains bullish, bolstered by a strong Q3 GDP report. Despite the escalating trade tension with China, it may continue to push higher in the coming days with the easing of coronavirus restriction.  It may pullback first as the bulls may need a pause before pushing higher. A retreat to 0.7339 level may offer a better risk reward entry.

 

5.(EURUSD)

 

 

Big Picture – Bullish

Resistance : 1.2555    Support : 1.2011

One Good Trade Idea

EURUSD surged to a new high since early Sep 20 with the break of the resistance at 1.2011.  With the latest US NFP report showing sign of a slowing recovery, the FED may continue to adopt a dovish forward guidance and provide monetary support at the last meeting for 2020 on 16 Dec. Traders may continue to buy with a price action signal above 1.2011 support. The next target is at 1.2555 resistance.

 

6.(GBPUSD)

 

 

Big Picture – Bullish

Resistance : 1.3482    Support :1.3176

One Good Trade Idea

The big picture is still bullish even though there is still no agreement in the negotiation between EU and UK. Last week, the bulls tried to break the resistance at 1.3482 but failed to close above it, despite a weaker USD. As price action closed on Friday with bearish pin bar tail at the resistance, it may pullback lower early next week. Traders  may look for price action signal on this pullback to buy.

 

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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