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Candlesticks and Ichimoku Weekly Analysis

Candlesticks and the Ichimoku Kinko Hyo are two technical charting tools invented by Japanese. When combined with traditional technical analysis methods, for example, trend analysis, pattern recognition and Fibonacci percentage of retracements and projections, these two tools 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.


EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 28 16 09:26 GMT

Although the single currency recovered after falling to 0.8251 earlier this month and consolidation with mild upside bias remains for another rebound later, above 0.8500 would bring further gain to 0.8575-80 but break there is needed to bring retest of recent high at 0.8628, break there would confirm recent entire erratic rise from 0.6936 low has resumed and extend headway to 0.8650-55, then 0.8700, however, reckon upside would be limited to

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 28 16 09:09 GMT

As the single currency rebounded after finding support at 1.0817 earlier this week, suggesting further consolidation would be seen, however, as long as resistance at 1.0949 holds, further consolidation would be seen and another retreat to said support is likely, however, a daily close below there is needed to suggest top is formed, bring further weakness to previous support at 1.0794.

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 27 16 09:54 GMT

Although kiwi recovered after holding above support at 0.6952, early breach of 0.6973 support suggests top has possibly been formed at 0.7325, upside should be limited to the Kijun-Sen (now at 0.7139) and 0.7190-00 should hold, bring another decline later. Below 0.6980-85 would bring test of said support at 0.6952, break there would add credence to this view and extend the fall from 0.7325 top for retracement of recent rise to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 27 16 09:28 GMT

Despite rising marginally to 0.7676, the subsequent stronger-than-expected retreat dampened our bullishness and suggests top has been formed there, hence consolidation below said resistance would be seen with mild downside bias for test of support at 0.7408 and then towards the lower Kumo (now at 0.7364). A daily close below there would suggest the rebound from 0.7145 has ended, bring weakness to 0.7306 and possibly test of

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 26 16 10:14 GMT

Cable has remained confined within recent established range and further consolidation is in store, whilst initial recovery to 1.3165 and 1.3200 cannot be ruled out, reckon resistance at 1.3291 would limit upside and price should falter below 1.3315, bring further choppy trading. A daily close above 1.3315 would suggest another leg of corrective rise from 1.2795 low has commenced, bring further gain to 1.3400, then towards

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 26 16 09:35 GMT

Although the greenback rose marginally higher to 0.9907 late last week, as broad outlook remains consolidative, reckon upside would be limited to 0.9920 minor resistance and price should falter below resistance at 0.9956, bring retreat later. Only break there would extend the rebound from 0.9444 for gain to 0.9990-1.0000 (61.8% Fibonacci retracement of 1.0328-0.9444 and psychological level) but reckon upside would be limited to

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 25 16 10:10 GMT

Although the single currency fell again and slipped to 1.0952 earlier today, lack of follow through selling and current rebound suggest consolidation would be seen and recovery towards resistance at 1.1060 cannot be ruled out, however, a daily close above there is needed to signal the fall from 1.1187 has ended and prolong consolidation above support at 1.0912, bring a stronger rebound to 1.1120, then

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 25 16 10:10 GMT

Although the single currency fell again and slipped to 1.0952 earlier today, lack of follow through selling and current rebound suggest consolidation would be seen and recovery towards resistance at 1.1060 cannot be ruled out, however, a daily close above there is needed to signal the fall from 1.1187 has ended and prolong consolidation above support at 1.0912, bring a stronger rebound to 1.1120, then

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 25 16 09:45 GMT

As the greenback has retreated after rising to 107.49 last week, suggesting minor consolidation below this level would be seen and pullback to 105.40-45 cannot be ruled out, however, reckon downside would be limited to 104.63 support and renewed buying interest should emerge above support at 103.91, bring another rise later. A break of said resistance at 107.49 would extend the rebound from 99.01 low for retracement recent decline to

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 22 16 09:11 GMT

Although the single currency retreated late last week to 115.50, euro found renewed buying interest there and staged another rebound to 118.47, retaining our bullishness for recent rise from 109.49 low to resume after consolidation, above said resistance would extend this move for retracement of recent decline to 119.00, then 119.50-60 but reckon upside would be limited to

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 22 16 08:50 GMT

Despite last week's retreat to 1.2861, as the greenback found renewed buying interest there and has rebounded again this week, suggesting test of resistance at 1.3140-44 would be seen, however, a break of previous resistance at 1.3188 is needed to retain bullishness and signal the erratic rise from 1.2461 low has resumed for retracement of early decline to

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 21 16 09:57 GMT

Aussie staged a much stronger-than-expected rebound after early selloff to 72.50, suggesting a temporary low has possibly been formed there and although price has retreated from 81.50, reckon pullback would be limited to the Tenkan-Sen (now at 78.73) and price should stay well above the Kijun-Sen (now at 77.06), bring another rise later. A break of resistance area at 81.50-60 would add credence to this view

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 21 16 09:42 GMT

Although aussie has retreated after last week's late rise to 0.7676 and consolidation below this level would be seen, as long as 0.7450-55 holds, mild upside bias remains for another rise, above 0.7575-80 would bring retest of said last week's high but break there is needed to extend the rise from 0.7145 (May low) for further gain towards resistance at 0.7720, however, only break there confirm entire correction from 0.7835 has ended, then

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 20 16 09:30 GMT

Cable's rebound from 1.2795 turned out to be stronger than expected, suggesting a temporary low has possibly been formed there and consolidation would be seen, although price has retreated from 1.3481, reckon downside would be limited to 1.2970-75 and 1.2900 should hold, bring another rebound later. Above 1.3315 would bring another test of 1.3481, break there would extend the rebound from 1.2795 low for retracement of recent decline to

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 20 16 09:01 GMT

Although the greenback retreated after rising to 0.9901 last week, as dollar found support at 0.9763 and has rebounded again, suggesting near term upside risk remains for the rebound from 0.9521 to bring another test of said resistance and possibly towards 0.9920 minor resistance, however, as broad outlook remains consolidative, reckon resistance at 0.9956 would limit upside and

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 19 16 08:55 GMT

The single currency met resistance at 1.1165 and has retreated, retaining our view that further consolidation would be seen but reckon downside would be limited to 1.1002, bring another rebound later to 1.1100-10 but still reckon the Kijun-Sen (now at 1.1170) would limit upside and bring retreat. Only a drop below 1.1002 support would suggest the rebound from 1.0912 has ended, then fall to 1.0945-50 and later

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 19 16 08:37 GMT

As the greenback has maintained a firm undertone after staging a strong rebound from 100.00, retaining our view that temporary low has been formed at 99.01 earlier and further consolidation above this support would be seen with mild upside bias for retracement of recent decline to 106.40-50, then towards 107.00, however, reckon upside would be limited to

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 15 16 10:02 GMT

The single currency has rallied after finding decent demand at 110.82 last week, suggesting further consolidation above recent low at 109.49 would be seen and mild upside bias remains for retracement of recent decline to 119.50-60 and then 120.00, however, reckon upside would be limited to 120.90-95 (50% Fibonacci retracement of 132.33-109.49) and price should falter below

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 15 16 09:41 GMT

The greenback did rebound after finding renewed buying interest at 1.2831 last week, our long position entered at 1.2850 met indicated target at 1.3090 with 240 points profit, having said that, as the pair ran into strong resistance at 1.3140 earlier this week and has retreated (a series of black candlesticks were formed on the daily chart), suggesting further choppy trading within recent established range would be seen and test of

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 14 16 09:41 GMT

Although the single currency has retreated after rising to 0.8628 last week and consolidation below this level would be seen, as long as 0.8300 holds, mild upside bias remains for another upmove later, above 0.8575-80 would bring retest of said resistance at 0.8628, break there would confirm and extend recent entire erratic rise from 0.6936 low to 0.8650-55, then 0.8700, however, reckon upside would be limited to

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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