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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 (30 – 04 Dec 20 )

By Hector in Trade Ideas on 29 November 2020

1.(Hong Kong Index HKD5 CFD)

 

 

 

Big Picture – Bullish

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

One Good Trade Idea

The bullish sentiment is likely to continue across global markets as a vaccine-led rally looks set to continue. Traders may prefer to look for buy signal in HKI above the support at 25,890. A break away from resistance 26,774 may provide the momentum for the bulls to push higher to 28,019 resistance.

 

2.(Strait Times Index SGD5 CFD)

 

 

Big Picture – Bullish

Resistance : 2,891     Support : 2,707

One Good Trade Idea

The bulls in STI may be taking a pause below the resistance at 2,891 after failing to hold above it. After a bullish run since early Nov, price actions may be due for a pullback. Traders may look for buy signal to enter long on pocket of weakness above the 20EMA support. If the bulls breaks above 2,891, it will expose the next target at 2,959.

 

3.(US SP500 Index USD5 CFD)

 

 

Big Picture – Bullish

Resistance : 3,674    Support : 3,589, 3,293

One Good Trade Idea

The uptrend may continue after the successful retest of the resistance at 3,589. It managed to close above the resistance last Friday and this level is now the new support. Traders may prefer to buy above it with a price action continuation candle.

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    Support : 0.7242

One Good Trade Idea

The bias is bullish as commodity currencies like AUD remains strong. After the recent pullback to support near 0.7242, price action may continues higher with the lifting of restriction due to the coronavirus. The next target is at resistance 0.7413 and traders may prefer to look for signal to buy.

 

5.(USDCAD)

 

 

Big Picture – Bearish

Resistance : 1.3419    Support : 1.2993, 1.2781

One Good Trade Idea

USDCAD may resume its downtrend post-US election on expectation of further easing of trade duties imposed during Trump administration. Traders may continue to sell below the support at 1.2993 for a target move lower to 1.2781.

 

6.(USDJPY)

 

 

Big Picture – Bearish

Resistance : 103.99    Support : 101.18

One Good Trade Idea

The anti-risk Japanese Yen may continue to gain strength against the US dollar amid setting records in Covid cases in Japan. Traders may continue to sell with a price action signal below 103.99 resistance.

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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