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Candlesticks and Ichimoku Intraday Trade Ideas
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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
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 02 10 02:25 GMT
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Dollar's retreat after last week's rally to 1.0644 suggests further consolidation below there would be seen and although pullback to the Kijun-Sen (now at 1.0545) is likely, reckon renewed buying interest would emerge around 1.0485 (38.2% Fibonacci retracement of 1.0227 to 1.0644), bring another upmove later. Above said resistance would extend gain to 1.0690/00 (38.2% Fibonacci retracement of 1.1967-0.9910) but overbought condition should prevent sharp move beyond there and risk from there has increased for a correction later. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 02 10 02:23 GMT
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As the British pound rebounded after falling to 1.5850 yesterday, suggesting consolidation above this support would take place and whilst retracement to 1.6013 (38.2% Fibonacci retracement of 1.6277 to 1.5850) is likely, upside should be limited and renewed selling interest should emerge around 1.6063/64 (current level of the Kijun-Sen as well as 50% Fibonacci retracement of 1.6277 to 1.5850), bring another decline later. A break of said support would extend weakness towards recent low at 1.5832 and once this support is penetrated, then the decline from 1.6879 should extend weakness to 1.5790/00 but previous chart point at 1.5708 should remain intact. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 02 10 02:18 GMT
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The single currency recovered after falling to 1.3851 yesterday and further consolidation above this level would take place, although retracement to the Kijun-Sen (no at 1.3970) is likely, upside should be limited to 1.4029 (previous support turned resistance) and minor resistance at 1.4053 should hold, bring another decline later towards 1.3800. Having said that, loss of downward momentum should prevent sharp fall below there and reckon 1.3748 (61.8% Fibonacci retracement of 1.2885 to 1.5145) would hold from here and bring rebound later |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 02 10 02:16 GMT
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Dollar's rebound after finding renewed buying interest at 89.76 yesterday suggests a temporary low has been formed at 89.14 and consolidation with upside bias is seen, a sustain breach of 90.93/94 would add credence to this view and bring correction of recent fall from 93.78 for gain to 91.46 (50% Fibonacci retracement of 93.78 to 89.14), however, it is necessary to see a breach of resistance at 91.88 to retain bullishness and stronger rebound to 92.05 and later towards 92.40/50 would follow. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 09:40 GMT
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Despite intra-day selloff to 1.5850, as cable has recovered after holding above support at 1.5832, suggesting consolidation would be seen and whilst retracement to the Tenkan-Sen (now at 1.6016) and possibly the Kijun-Sen (now at 1.6063), however, renewed selling interest should emerge below resistance at 1.6077 (previous support turned resistance) and bring another decline later, break of said support would extend weakness towards recent low at 1.5832. Looking ahead, once this support is penetrated, then the decline from 1.6879 should extend weakness to 1.5790/00 but previous chart point at 1.5708 should remain intact. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 09:39 GMT
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As the greenback has retreated after last week |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 09:25 GMT
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Although euro has recovered after intra-day fall to 1.3851 and the breach of Tenkan-Sen suggests recovery to the Kijun-Sen (no at 1.3979) cannot be ruled out, however, upside should be limited to 1.4029 (previous support turned resistance) and minor resistance at 1.4053 should hold, bring another decline later to 1.3800. Having said that, loss of downward momentum should prevent sharp fall below there and reckon 1.3748 (61.8% Fibonacci retracement of 1.2885 to 1.5145) would hold from here and bring rebound later |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 09:23 GMT
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Although dollar has rebounded from intra-day low of 89.76, break of resistance at 90.93 is needed to confirm low has been formed at 89.14 and bring correction of recent fall from 93.78 for gain to 91.46 (50% Fibonacci retracement of 93.78 to 89.14), however, it is necessary to see a breach of resistance at 91.88 to retain bullishness and bring stronger rebound to 92.05 and later towards 92.40/50 later. In the event said resistance at 90.93 continues to holds, then another retreat to 89.57 (Friday |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 01:10 GMT
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The greenback finally broke above resistance at 1.0592 (previous support turned resistance) , confirming recent rise from 2009 low of 0.9910 remains in progress and further gain to 1.0650/60 is under way, however, near term overbought condition should prevent sharp move beyond 1.0690/00 (38.2% Fibonacci retracement of 1.1967-0.9910) and risk from there has increased for a retreat later. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 01:09 GMT
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Cable's selloff after breaking indicated support at 1.6077 and the release of stronger-than-expected U.S. GDP data kept sterling under pressure and decline from 1.6459 is likely to extend weakness to 1.5895/96 (100% projection of 1.6459 to 1.6077 measuring from 1.6277 and previous support level), however, break there is needed to retain bearishness and bring retest of recent support at 1.5832 later. On the upside, whilst recovery to the Tenkan-Sen (now at 1.6058) due to near term oversold condition cannot be ruled out, however, renewed selling interest should emerge around 1.6077 (previous support turned resistance) and the Kijun-Sen (now at 1.6106) should hold, bring another decline later. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 01:07 GMT
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As the single currency has continued to move lower on dollar's broad-based strength after the release of solid Q4 GDP data and indicated downside target at 1.3854 (61.8% projection of 1.4580 to 1.4029 measuring from 1.4195) has been met, suggesting further weakness towards 1.3800 is under way, however, reckon 1.3748 (61.8% Fibonacci retracement of 1.2885 to 1.5145) would hold from here and bring rebound later due to oversold condition. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Feb 01 10 01:05 GMT
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Despite Friday's rise to 90.93, as the greenback ran into heavy offers right at the Ichimoku cloud top and the retreat from there suggest consolidation with mild downside bias would be seen, however, only break of Friday's low at 89.57 would signal the rebound from 89.14 has ended there, then retest of this support would be seen, break there would extend the decline from 93.78 for a stronger retracement of the rise from 84.82 towards 88.83 but reckon support at 88.32 would remain intact. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 08:41 GMT
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As the greenback has maintained a firm undertone after rising to 1.0559 yesterday, suggesting recent upmove from 2009 low of 0.9910 would resume after consolidation and extend gain to 1.0592 (previous support turned resistance) . Having said that, loss of upward momentum should prevent sharp move beyond 1.0690/00 (38.2% Fibonacci retracement of 1.1967-0.9910) and risk from there has increased for a retreat next week. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 08:39 GMT
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The British pound finally dropped below indicated support at 1.6077 on dollar's strength partly due to the release of better-than-expected U.S. GDP data, confirming a downside break of the 1.6077-1.6285 range has taken place and the decline from 1.6459 may extend to 1.6000 and possibly towards 1.5950/60, however, oversold condition should prevent sharp fall below 1.5895/96 (100% projection of 1.6459 to 1.6077 measuring from 1.6277 and previous support level) today and bring rebound probably next week. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 08:24 GMT
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As the single currency has remained under pressure, suggesting recent decline Is still in progress and dollar |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 08:23 GMT
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The greenback rebounded on risk appetite partly due to the release of better-than-expected U.S. GDP data (rose in 2 consecutive months), suggesting the decline from 93.78 has ended at 89.14 and consolidation with upside bias is seen for gain to 91.46 (50% Fibonacci retracement of 93.78 to 89.14), however, break of resistance at 91.88 is needed to retain bullishness and signal the fall from 93.78 is over, then test of next resistance at 92.05 would follow. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 01:09 GMT
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As the greenback has continued to trade narrowly after the brief rise to 1.0559 yesterday, suggesting further consolidation below this level would be seen and pullback to the Kijun-Sen (now at 1.0461) cannot be ruled out, however, reckon renewed buying interest would emerge around 1.0432 (38.2% Fibonacci retracement of 1.0227 to 1.0559) and bring resumption of recent upmove from 2009 low of 0.9910 for further headway to 1.0592 (previous support turned resistance) . Having said that, loss of upward momentum should prevent sharp move beyond 1.0690/00 (38.2% Fibonacci retracement of 1.1967-0.9910) and risk from there has increased for a retreat later. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 01:08 GMT
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Although the British pound retreated sharp from 1.6277 (after faltering below indicated resistance at 1.6285) yesterday, as cable still holds above indicated support at 1.6077, reinforcing our view that further choppy consolidation within the range of 1.6077-1.6285 would be seen and break of 1.6077 support is needed to bring stronger retracement of the rise from 1.5832 towards 1.6033 (61.8% projection of 1.6459 to 1.6077 measuring from 1.6269) and possibly to 1.6000. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 01:06 GMT
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Although the single currency has fallen after brief recovery from 1.3930 yesterday and weakness towards 1.3900 cannot be ruled out, loss of downward momentum would prevent sharp fall below there and reckon 1.3854 (61.8% projection of 1.4580 to 1.4029 measuring from 1.4195) would limit downside and bring a correction later today. |
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Candlesticks and Ichimoku Intraday |
Written by ActionForex.com |
Jan 29 10 01:05 GMT
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Although the greenback retreated after rebounding to 90.56 yesterday, only break of support at 89.14 would signal the decline from 93.78 has resumed and extend weakness towards 88.83, however, reckon support at 88.32 would hold and yield another strong rebound later due to loss of downward momentum. However, break of said resistance is needed to suggest low has possibly been formed, bring test of the Ichimoku cloud bottom at 90.66, but only above 90.91-92 (38.2% Fibonacci retracement of 93.78 to 89.14 and the current level of the Ichimoku cloud top) would confirm, then subsequent gain towards 91.88 would follow next week. |
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