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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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Index CFD and Forex Trade Ideas & Chart Analysis (14 – 18 Sep 20 )

By Hector in Trade Ideas on 13 September 2020

1.(Hong Kong Index HKD5 CFD)


 

Big Picture – Bearish

Resistance : 25,890    Support : 22,505

One Good Trade Idea

After breaking the blue uptrend line, price actions traded lower last week and may continue to face selling pressure next week. Following the US tech slide, the momentum in HKI may be biased towards  lower support at 22,505. Traders may look for price action to sell below the blue trend line.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bearish

Resistance : 2,501, 2,671    Support : 2,380, 2,208

One Good Trade Idea

The bias is turning to bearish as the index broke the 2,500 psychological level last week. Price actions may trade lowers in the near term with the lower support at 2,208 now exposed. Bear traders may look for sell signal below 2,500 to enter short.

 

3.(US Tech 100 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 12,468    Support : 10,371

One Good Trade Idea

After the index reached all time high at 12,468 in early Sep, the bulls ran out of steam with 2 weeks of consecutive losses. While the uptrend is still intact, price action may pullback lower to support at 10,371. Traders may look out for a reversal candle to buy nearer to this support.

 

Note:

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

 

 

4.(EURJPY)

 

 

 

Big Picture – Bullish

Resistance : 127.04    Support : 124.42

One Good Trade Idea

After a strong rally on the Euro, EURJPY is consolidating above the support at 124.42. The recent gain may have put the bulls on a pause. Also, the Brexit uncertainty may also have a dampening effect on the EUR. Whilst price actions remain above 124.42, traders may look for signal to long.

 

5.(EURUSD)

 

 

Big Picture – Bullish

Resistance : 1.2011    Support : 1.1695

One Good Trade Idea

While the longer trend remains bullish, the shorter market trend is trading side way. Currently, the ECB is in no rush to change the path of monetary policy as it adopts a wait and see approach. It may continue to consolidate early next week until the next FOMC interest rate decision on 16 Sep. Traders may look for a price action signal to buy near support at 1.1695.

 

6.(USDCAD)

 

 

Big Picture – Bearish

Resistance :1.3314    Support : 1.2993

One Good Trade Idea

The bias remains bearish even though the pair is working on a pullback higher as a drop in oil prices weighed on Canadian economic recovery. Traders may consider trading short with this retracement near the resistance at 1.3314, in anticipation of another leg down to lower support at 1.2993 and below.

 

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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