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May 29 16:09 GMT

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Candlesticks and Ichimoku Intraday Trade Ideas

Candlesticks and the Ichimoku Kinko Hyo, when combined with traditional technical analysis methods, for example, trend analysis, pattern recognition and Fibonacci retracements and projections, work amazingly well in forecasting the market movements, especially in very volatile market conditions.

  • The intraday trade ideas section provides trading strategies for traders to profit from fast moving markets.
  • The weekly analysis section provides analysis from a short to medium time frame for position traders.

Candlesticks Intraday Trade Ideas Update Schedule:

  • 1st Update: 0630 - 0700 GMT
  • 2nd Update: 0930 - 1000 GMT
  • 3rd Update: 1230 - 1300 GMT
  • 4th Update: 1500 - 1530 GMT
  • Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF


Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 15:37 GMT

Although dollar's intra-day fall turned out to be stronger than expected, as the greenback found support at 0.9348 and has rebounded, suggesting an intra-day low has possibly formed and consolidation with mild upside bias is seen but break of resistance at 0.9479 is needed to add credence to this view, bring test of the upper Kumo (now at 0.9497) but only break of indicated level at 0.9513 would signal pullback from 0.9543 has ended

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Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 15:29 GMT

As the British pound has fallen again after meeting resistance at 1.5342, suggesting recent decline from 1.5815 top is still in progress and may extend weakness to 1.5220-25 (61.8% projection of 1.5700-1.5354 measuring from 1.5437) but oversold condition should limit downside to 1.5190-00 and reckon 1.5170 would hold from here.

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Trade Idea Wrap-up: EUR/USD - Hold short entered at 1.1005 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 15:26 GMT

Although the single currency edged higher in NY morning, still reckon upside would be limited to 1.1008-14 (previous resistance and 50% Fibonacci retracement of 1.1208-1.0819) and bring retreat, below intra-day support at 1.0926 would bring test of the upper Kumo (now at 1.0898) but below support at 1.0867 is needed to signal correction from 1.0819 has ended, bring retest of this level, then 1.0800-05

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Trade Idea Wrap-up: USD/JPY - Buy at 122.90 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 15:18 GMT

Although dollar has recovered after finding support at 123.61, as long as this week's high at 124.46 holds, further consolidation would be seen and another corrective fall cannot be ruled out, below said support at 123.61 would bring retracement to 123.31 (38.2% Fibonacci retracement of 121.44-124.46) cannot be ruled out, however, reckon 122.90-95 (50% Fibonacci retracement) would limit downside and bring another rise later.

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Trade Idea Update: USD/CHF - Hold long entered at 0.9395 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 13:23 GMT

As dollar has slipped again after intra-day brief bounce to 0.9479, retaining our view that further consolidation is in store and another corrective fall cannot be ruled out, however, reckon 0.9385 (61.8% Fibonacci retracement of 0.9287-0.9543) would contain weakness, bring another rise later, above said resistance at 0.9479 would bring test of indicated level at 0.9513, break there would signal pullback from 0.9543 has ended, bring retest of 0.9543

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Trade Idea Update: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 13:18 GMT

As the British pound has fallen again after meeting resistance at 1.5342, suggesting recent decline from 1.5815 top is still in progress and may extend weakness to 1.5220-25 (61.8% projection of 1.5700-1.5354 measuring from 1.5437) but oversold condition should limit downside to 1.5190-00 and reckon 1.5170 would hold from here.

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Trade Idea Update: EUR/USD - Sell at 1.1005 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 13:14 GMT

As the single currency found support at 1.0867 yesterday and rebounded, retaining our view that further consolidation above this week's low at 1.0891 would be seen and upside risk remains for another corrective rise to 1.1008-14 (previous resistance and 50% Fibonacci retracement of 1.1208-1.0819), however, price should falter below 1.1025-30 and bring another decline. A break of the Ichimoku cloud (now at 1.0888-91) would bring test of said support at 1.0867

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Trade Idea Update: USD/JPY - Buy at 122.90 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 13:07 GMT

Dollar's retreat after yesterday's rise to 124.46 suggests consolidation below there would be seen and minor correction to 123.49, then 123.31 (38.2% Fibonacci retracement of 121.44-124.46) cannot be ruled out, however, reckon 122.90-95 (50% Fibonacci retracement) would limit downside and bring another rise later, above said resistance at 124.46 would signal recent upmove is still in progress and extend gain to 124.75-80

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Trade Idea Update: USD/CHF - Buy at 0.9395 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 10:42 GMT

As dollar has slipped again after intra-day brief bounce to 0.9479, retaining our view that further consolidation is in store and another corrective fall cannot be ruled out, however, reckon 0.9385 (61.8% Fibonacci retracement of 0.9287-0.9543) would contain weakness, bring another rise later, above said resistance at 0.9479 would bring test of indicated level at 0.9513, break there would signal pullback from 0.9543 has ended, bring retest of 0.9543

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Trade Idea Update: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 10:38 GMT

As the British pound has retreated again after meeting resistance at 1.5342, suggesting a retest of yesterday's low at 1.5261 would be seen, a break there would signal recent decline from 1.5815 top is still in progress and extend weakness to 1.5245-50 (1.236 times projection of 1.5815-1.5447 measuring from 1.5700), then 1.5220-25 (61.8% projection of 1.5700-1.5354 measuring from 1.5437)

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Trade Idea Update: EUR/USD - Sell at 1.1005 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 10:32 GMT

As the single currency found support at 1.0867 yesterday and rebounded, retaining our view that further consolidation above this week's low at 1.0891 would be seen and upside risk remains for another corrective rise to 1.1008-14 (previous resistance and 50% Fibonacci retracement of 1.1208-1.0819), however, price should falter below 1.1025-30 and bring another decline. A break of the Ichimoku cloud (now at 1.0888-91) would bring test of said support at 1.0867

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Trade Idea Update: USD/JPY - Buy at 122.90 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 10:29 GMT

Dollar's retreat after yesterday's rise to 124.46 suggests consolidation below there would be seen and minor correction to 123.49, then 123.31 (38.2% Fibonacci retracement of 121.44-124.46) cannot be ruled out, however, reckon 122.90-95 (50% Fibonacci retracement) would limit downside and bring another rise later, above said resistance at 124.46 would signal recent upmove is still in progress and extend gain to 124.75-80

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Trade Idea : USD/CHF - Buy at 0.9395 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 08:01 GMT

Although dollar has rebounded after holding above indicated previous support at 0.9405, reckon resistance at 0.9513 would limit upside and near term downside risk remains for another corrective fall to said support, however, reckon 0.9385 (61.8% Fibonacci retracement of 0.9287-0.9543) would contain weakness, bring another rise later, above 0.9513 would bring retest of 0.9543 but break there is needed to confirm upmove has once again resumed and extend gain to previous resistance at 0.9573.

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Trade Idea: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 07:52 GMT

Although the British pound recovered after falling to 1.5261 yesterday and consolidation above this level would be seen, reckon upside would be limited to 1.5350-60 and resistance at 1.5386 (yesterday's high) would hold, bring another decline later, a break of said support at 1.5261 would signal recent decline from 1.5815 top is still in progress and extend weakness to 1.5245-50 (1.236 times projection of 1.5815-1.5447 measuring from 1.5700), then 1.5220-25

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Trade Idea: EUR/USD - Sell at 1.1005 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 07:46 GMT

As the single currency found support at 1.0867 yesterday and rebounded, retaining our view that further consolidation above this week's low at 1.0891 would be seen and upside risk remains for another corrective rise to 1.1008-14 (previous resistance and 50% Fibonacci retracement of 1.1208-1.0819), however, price should falter below 1.1025-30 and bring another decline. A break of the Ichimoku cloud (now at 1.0888-91) would bring test of said support at 1.0867

Read more...
 
Trade Idea: USD/JPY - Buy at 122.90 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 29 15 07:39 GMT

Dollar's retreat after yesterday's rise to 124.46 suggests consolidation below there would be seen and minor correction to 123.49, then 123.31 (38.2% Fibonacci retracement of 121.44-124.46) cannot be ruled out, however, reckon 122.90-95 (50% Fibonacci retracement) would limit downside and bring another rise later, above said resistance at 124.46 would signal recent upmove is still in progress and extend gain to 124.75-80 but overbought condition should prevent sharp move beyond 125.00-10

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Trade Idea Wrap-up: USD/CHF - Buy at 0.9405 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 28 15 15:42 GMT

As the greenback has retreated again after intra-day brief bounce to 0.9513, retaining our view that further consolidation below yesterday's high of 0.9543 would be seen and retracement to 0.9445 (38.2% Fibonacci retracement of 0.9287-0.9543) is likely, however, reckon 0.9405-15 (previous support and 50% Fibonacci retracement) would limit downside and bring another rise later, above 0.9513 would bring retest of 0.9543

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Trade Idea Wrap-up: GBP/USD - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 28 15 15:38 GMT

Although the British pound has remained under pressure after meeting renewed selling interest at 1.5386 and near term downside risk remains for recent decline from 1.5815 to extend further weakness to 1.5245-50 (1.236 times projection of 1.5815-1.5447 measuring from 1.5700), oversold condition should limit downside to 1.5220-25 (61.8% projection of 1.5700-1.5354 measuring from 1.5437)

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Trade Idea Wrap-up: EUR/USD - Sell at 1.0990 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 28 15 15:33 GMT

Euro's rebound from yesterday's low of 1.0819 has retained our view that initial consolidation would be seen and recovery to 1.0965-70 (38.2% Fibonacci retracement of 1.1208-1.0819) cannot be ruled out, howewer, price should falter below 1.1008-14 (previous resistance and 50% Fibonacci retracement) and bring another decline. A break of the Kijun-Sen (now at 1.0884) would bring retest of said support at 1.0819

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Trade Idea Wrap-up: USD/JPY - Buy at 122.90 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | May 28 15 15:29 GMT

The greenback has continued to move higher after recent rally, adding credence to our view that medium term upmove is still in progress and further gain to 124.50-55 and possibly 124.75-80 would be seen, however, overbought condition should prevent sharp move beyond 125.00-10 today and price should falter below 125.50, risk from there is seen for a retreat later.

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