Trade Ideas

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Index CFD and Forex Trade Ideas & Chart Analysis (31 – 04 Sep 20)

By Hector in Trade Ideas on 30 August 2020

1.(Hong Kong Index HKD5 CFD)




Big Picture – Slightly Bullish

Resistance : 26,731    Support : 24,873

One Good Trade Idea

The trend is slightly bullish after the bounced from the trendline above the support at 24,873. Sentiment is buoyed by the expectations that global monetary policies will remain supportive and the decrease in the number of Covid-19 cases. Also, the filing of Ant Group IPO listing in Hong Kong and Shanghai may have attracted investors back to the market . Traders may prefer to long above support at 24,873 for a short term play to sell near resistance target at 26,731.


2.(Strait Times Index SGD5 CFD)



Big Picture – Neutral

Resistance : 2,671    Support : 2,501

One Good Trade Idea

The bias remains neutral as it is still moving sideway with 2 steps forward followed by 2 step back. Traders may prefer to wait for price action near either the range top or bottom (2,671 or 2,501) before entering a trade.


3.(Wall Street Index USD1 CFD)



Big Picture – Bullish

Resistance :29,558    Support : 27,156

One Good Trade Idea

The bullish trend continues with higher price actions that now expose the next resistance target at 29,558. This was the previous high back in Feb before Covid-19 struck. Risk appetite remains strong as investors expect future economic activity to rise with more stimulus package to spur growth and a dovish FED after Jerome Powell speech. Traders may continue to buy on a price action long signal.



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






Big Picture – Bullish

Resistance : 0.7392    Support : 0.7063

One Good Trade Idea

AUDUSD continues to trend higher after FED Chair Powell announced a shift in strategy by focusing more on the employment side while being more flexible with inflation. This may indicate that it will not hike rate even though inflation may overshoots in the near future while FED is focusing on employment amid the Covid-19 pandemic. Against this backdrop, traders may continue to long for a target move to 0.7392.





Big Picture – Bullish

Resistance : 1.1996    Support : 1.1695

One Good Trade Idea

The bias remains bullish even though it is consolidating above the support at 1.1695. Economic and employment data that beat expectations help to boost sentiment for a strong EURUSD. However, the recent surge in Covid 19 cases in Europe is damping the sentiment for fear of further lockdowns. Whilst price remains above 1.1695 support, traders may prefer to buy with a price action signal.





Big Picture – Bearish

Resistance : 1.3201    Support : 1.2950

One Good Trade Idea

The downtrend of USDCAD continues after breaking the support at 1.3201. The weakness in USD is causing the drop rather than the strength of the CAD. The Canadian is weak against other G10 currencies after Q2 GDP data confirmed a record contraction. For the path of least resistance, traders may continue to look for price action signal to sell with the next lower target at 1.2950.



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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