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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/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 24 17 09:26 GMT

Although the single currency finally resumed recent decline and fell to as low as 118.60 earlier this week, lack of follow through selling and the quick rebound from there formed a hammer candlestick pattern on the daily, suggesting consolidation above this level would be seen and another bounce to the Tenkan-Sen (now at 119.95) cannot be ruled out, however, upside should be limited to 120.50-55 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 | Feb 24 17 09:06 GMT

Although the greenback has retreated again after faltering below indicated resistance at 1.3212, a break of indicated support at 1.2969 is needed to signal recent decline from 1.3599 top has resumed and extend further weakness to 1.2900-10, below there would signal the erratic rise from 1.2461 has ended at 1.3599, bring subsequent fall to 1.2850, then towards support at 1.2822 but the pair shall stay well above

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 23 17 08:52 GMT

As the single currency has fallen again after meeting renewed selling interest at 0.8592, adding credence to our bearish view that the decline from 0.8857 is still in progress and may extend further weakness to 0.8400, break there would confirm the rebound from 0.8304 has ended and subsequent weakness to 0.8350 would follow, having said that, previous support at 0.8304 should remain intact

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 23 17 08:36 GMT

As the single currency has continued to trade defensively after recent selloff, retaining our bearishness for a retest of 2016 low of 1.0622, however, a sustained break below there is needed to confirm the erratic decline from 1.1201 (2016 high) has resumed for further fall to 1.0590-00, then towards 1.0530-35 but near term oversold condition should prevent sharp fall below 1.0500, price should stay well above

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 22 17 09:14 GMT

Although aussie resumed recent upmove and rose to 88.15 last week, the subsequent retreat to 86.30 suggests consolidation below said resistance at 88.15 would be seen but a daily close below said support at 86.30 is needed to signal top is possibly formed, bring further fall to 85.90-00 and possibly towards support at 85.20, a drop below this level would provide confirmation, bring retracement of recent upmove to 85.00, then towards

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 22 17 08:37 GMT

As aussie has eased after rising to 0.7732, suggesting consolidation below this level would be seen and pullback to the Kijun-Sen (now at 0.7613) is likely, however, reckon downside would be limited to support at 0.7512 and bring another rise later, above said resistance at 0.7732 would extend gain to previous chart resistance at 0.7778, however, a break above there is needed to retain bullishness and signal early erratic upmove from 0.6827 (2016 low) has resumed for

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 21 17 09:27 GMT

Although cable found support at 1.2383 and rebounded late last week, as price has retreated again after meeting resistance at 1.2524, retaining our bearishness and consolidation with downside bias remains for another test of said support, then towards 1.2347 but break of latter level is needed to retain bearishness and signal the fall from 1.2706 top has resumed for weakness to 1.2300-10, then test of

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 21 17 08:43 GMT

Although the greenback retreated after running into strong resistance at 1.0119 and retreated to as low as 0.9967, as renewed buying interest emerged and dollar has staged a strong rebound since Friday, retaining our view that further choppy trading would take place and recovery towards said resistance at 1.0119 cannot be ruled out, however, break there is needed to signal the rebound from 0.9861 (last month;s low) is still in progress for further gain to

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 20 17 08:18 GMT

Although the single currency dropped to as low as 1.0521 last week, the subsequent rebound formed a hammer (with white body) candlestick pattern on the daily chart, suggesting consolidation above this level would be seen, however, said support at 1.0521 should continue to hold, bring further sideways trading. Only below said support at 1.0521 would signal the fall from 1.0829 top has resumed and suggest the entire rebound from 1.0340 (Jan low) has ended, then further fall to

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 20 17 08:05 GMT

Although the greenback rose to as high as 114.96 last week, the subsequent retreat suggests consolidation below this level would be seen and marginal weakness cannot be ruled out, however, reckon 112.00-10 would hold and bring another rebound later, above 114.00-10 would suggest the retreat from 114.96 has ended, bring another rise to this level, break there would add credence to our view that a temporary low is formed, bring correction of recent decline to

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 17 17 09:42 GMT

Although the single currency rebounded after finding support at 119.33, as euro met resistance at 121.34 and has retreated again, dampening our bullishness and downside risk remains for weakness to 119.65 but break of said support at 119.33 is needed to shift risk back to downside and extend the erratic fall from 124.10 top for retracement of early upmove to 119.00 and later test of

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 17 17 09:12 GMT

Although the greenback has retreated from 1.3212, a break of indicated support at 1.2969 is needed to signal recent decline from 1.3599 top has resumed and extend further weakness to 1.2900-10, below there would signal the erratic rise from 1.2461 has ended at 1.3599, bring subsequent fall to 1.2850, then towards support at 1.2822 but the pair shall stay well above support at 1.2763. If said support at 1.2969 continues to hold, then further consolidation would take place and

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 16 17 09:20 GMT

Although the single currency has recovered after falling to 0.8456 earlier this week and consolidation above this level would be seen initially, reckon upside would be limited to 0.8600 and resistance at 0.8646 should hold, bring another decline later, below support at 0.8450-56 would extend the fall from 0.8857 top to 0.8400 but a daily close below there is needed to confirm the rebound from 0.8304 has ended and subsequent weakness to

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 16 17 09:11 GMT

As the single currency has remained under pressure after recent selloff, retaining our bearishness for a retest of 2016 low of 1.0622, however, a sustained break below there is needed to confirm the erratic decline from 1.1201 (2016 high) has resumed for further fall to 1.0590-00, then towards 1.0530-35 but near term oversold condition should prevent sharp fall below 1.0500, price should stay well above

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 15 17 09:54 GMT

Despite extending recent rise from 0.6862 to as high as 0.7376 last week, the subsequent retreat after faltering below resistance at 0.7403 suggests temporary top has been formed there and consolidation with initial downside bias is seen for weakness to the upper Kumo (now at 0.7133), then 0.7075-80, however, reckon 0.7000-05 would limit downside and bring another rise later.

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 15 17 09:18 GMT

As aussie has maintained a firm undertone after recent rally from 0.7158, suggesting this move is still in progress and may extend further gain to 0.7730-35, however, break of previous chart resistance at 0.7778 is needed to retain bullishness and signal early erratic upmove from 0.6827 (2016 low) has resumed for retest of 0.7835 (2016 high) first. Looking ahead, once this level is penetrated, this would encourage for headway to

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 14 17 09:42 GMT

Although cable rebounded to 1.2582 last week, the subsequent retreat formed a shooting star on the daily chart, suggesting consolidation below this level would be seen and weakness to 1.2390-00 would be seen, however, break of support at 1.2347 is needed to retain bearishness and signal the fall from 1.2706 top has resumed for weakness to 1.2300-10, then test of 1.2261 support. Looking ahead, only below this level would signal the rebound from 1.1986 low has ended, then

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 14 17 09:31 GMT

Although the greenback fell to as low as 0.9861 late last month, the subsequent rebound has dampened our bearishness and suggests a temporary low has possibly been formed there, hence consolidation with mild upside bias is seen for gain to 1.0090-00, then 1.0135-40, however, reckon key resistance at 1.0248 would cap upside and bring further choppy consolidation later. Only a daily close above this level would signal recent correction from 1.0344 top has ended

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 13 17 03:03 GMT

The single currency has retreated again after early rise to 1.0829, the breach of indicated support at 1.0712 suggests top has possibly been formed there and consolidation with mild downside bias is seen for test of 1.0579-89 support, a daily close below there would add credence to this view and suggest the entire rebound from 1.0340 (Jan low) has possibly ended, then further fall to 1.0500 would follow

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 13 17 02:48 GMT

The greenback finally found good support at 111.59 last week and has staged a strong rebound, a long white candlestick was formed, suggesting 1-2 weeks of consolidation above this level would be seen with mild upside bias for test of the Kijun-Sen (now at 114.56), however, a daily close above there is needed to retain bullishness and signal a temporary is in place, bring correction of recent decline to

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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