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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.


GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 16 14 06:38 GMT

Although the British pound rebounded after falling to fresh 2014 low of 1.5541 last week, as cable has retreated again after meeting renewed selling interest around the Kijun-Sen, suggesting near term downside risk remains but only break of said support at 1.5541 would signal the selloff from 1.7192 top has once again resumed and extend weakness to 1.5500, then towards support at 1.5428 which is likely to hold

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 16 14 06:21 GMT

As the greenback has retreated again after brief rise to 0.9818 early last week, suggesting consolidation below this level would be seen but as long as support at 0.9595 holds, prospect of another rise remains, above 0.9720-30 would signal the retreat from 0.9818 has ended and bring retest of this level, break there would extend medium term upmove from 0.8699 low for further gain to previous resistance at 0.9839 and possibly towards 0.9900-10

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 15 14 10:33 GMT

Although the single currency rebounded after falling to 1.2247, as long as last week's high at 1.2495 holds, bearishness remains for recent decline to resume after consolidation, below 1.2340-50 would signal the rebound from 1.2247 has ended at 1.2495 and bring retest of this level, once this support is penetrated, this would signal the decline from 1.3993 top is still in progress for further weakness to 1.2200, then towards 1.2145-50

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 15 14 10:13 GMT

Despite last week's rise to 121.85, the subsequent stronger-than-expected retreat formed 3 consecutive black candlesticks on the daily chart, with price broke below the Kijun-Sen last week, suggesting a temporary top has possibly been formed and consolidation with mild downside bias is seen, a daily close below 117.24 support would add credence to this view, bring retracement of recent upmove to 116.50, then towards 115.45-50

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 12 14 10:06 GMT

Although the single currency resumed recent upmove and rose to as high as 149.79, lack of follow through buying and this week's retreat formed a bearish engulfing pattern on the daily chart, hence consolidation below this level would be seen with mild downside bias for test of the Kijun-Sen (now at 145.94) but a daily close below support at 145.59 is needed to signal a temporary top has been formed

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 12 14 09:44 GMT

The greenback has risen again after brief retreat to 1.1397, suggesting recent upmove is still in progress and further gain to 1.1595-00 (61.8% projection of 1.0811-1.1467 measuring from 1.1191) would be seen, however, anticipated overbought condition should prevent sharp move beyond 1.1655-60 (1.618 times projection of 0.9407-1.0657 measuring from 0.9633) and reckon 1.1700-10 would hold from here, bring correction later.

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 11 14 09:13 GMT

The single currency found good buying interest just above support at 0.7832 and has rebounded again, retain our bullishness and consolidation with mild upside bias remains for test of resistance at 0.7977, then towards resistance at 0.8047, however, only a daily close above there would add credence to our view that low has been formed at 0.7766 earlier and further rise to previous resistance at 0.8066 would follow, break there would provide confirmation

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 11 14 08:53 GMT

The single currency has remained under pressure after brief bounce to 1.2047 last week, however, still reckon downside would be limited to 1.2000 and bring another bounce to said resistance at 1.2047, then 1.2065-70, a daily close above the upper Kumo (now at 1.2087) is needed to suggest low is possibly formed, bring test of resistance at 1.2140 but only break of previous resistance at 1.2178 would add credence to this view and suggest recent decline from 1.2650 has ended

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 10 14 08:09 GMT

Although aussie slipped again after meeting renewed selling interest at 101.37 late last week and near term downside risk remains for the retreat from 102.85 to bring retracement of recent upmove, reckon 98.00 would limit downside and bring another rise later, above 100.00 would bring another bounce to said resistance at 101.37 but a daily close above there is needed to signal the pullback from 102.85 has ended and bring an eventual retest of this level

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 10 14 07:57 GMT

Despite falling to 0.8224 yesterday, the subsequent rebound formed a hammer candlestick (bullish reversal) pattern on the daily chart, suggesting consolidation above this level would be seen and consolidation with mild upside bias is for test of the Tenkan-Sen (now at 0.8420, a daily close above there would add credence to this view, bring a stronger rebound towards the Kijun-Sen (now at 0.8510), however, reckon resistance at 0.8615 would limit upside

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 09 14 07:30 GMT

Although the British pound resumed recent decline and fell to as low as 1.5541 earlier today, as recent selloff from 1.7192 top is losing downward momentum, sharp fall below 1.5530-35 (100% projection of 1.6525-1.5875 measuring from 1.6184) and reckon support at 1.5428 would hold on first testing, risk from there has increased for a corrective rebound to take place later this week.

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 09 14 07:28 GMT

Despite retreating sharply from 0.9795 last week, the greenback found renewed buying interest there (just around the Kijun-Sen) and has risen again, bullishness remains for medium term upmove from 0.8699 low to extend further gain to previous resistance at 0.9839 and possibly towards 0.9900-10, however, weakening of near term upward momentum should prevent sharp move beyond resistance at 0.9972 and price should falter well below psychological resistance at 1.0000

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 08 14 08:39 GMT

The single currency met renewed selling interest at the Kijun-Sen and has fallen again last week, adding credence to our bearishness for recent selloff from 1.3993 top is still in progress and downside bias remains for further weakness to 1.2200-10, then towards 1.2145-50 (61.8% projection of 1.3700-1.2501 measuring from 1.2887) but loss of downward momentum should prevent sharp fall below 1.2100 and price should stay well above psychological support at 1.2000

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 08 14 08:18 GMT

As the greenback has surged again after finding renewed buying interest around the Tenkan-Sen, adding credence to our bullishness for medium term upmove to extend further gain (indicated target at 119.75-80 - 1.618 times projection of 101.07-110.09 measuring from 105.20 and 120.00 had been met) to 122.00-05, then 122.45-50, however, loss of near term upward momentum should prevent sharp move beyond 123.00

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 05 14 08:58 GMT

Although the single currency found renewed buying interest at 145.59 and has rebounded, break of recent high of 149.14 is needed to signal medium term uptrend has once again resumed and extend further gain to psychological resistance at 150.00, above there would bring headway to 151.00 and possibly towards 152.00, however, overbought condition should limit upside to 153.00, price should falter well below 155.00

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 05 14 08:38 GMT

Although last week's anticipated rebound to 1.1459 has justified our bullishness (our long position entered at 1.1220 met indicated upside target at 1.1420 with 200 points profit), as price has retreated after faltering below recent high at 1.1467, suggesting initial consolidation would be seen and pullback to the Tenkan-Sen (now at 1.1344) and possibly 1.1310-15 cannot be ruled out, however, reckon 1.1250 would limit downside and bring another rise later.

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 04 14 09:06 GMT

The single currency has slipped again after brief recovery and marginal weakness from here cannot be ruled out, however, reckon support at 0.7799 would limit downside and bring another rebound later to 0.7975-80, then towards resistance at 0.8047, however, only a daily close above there would add credence to our view that low has been formed at 0.7766 earlier and test of previous resistance at 0.8066 would follow, break there would provide confirmation

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 04 14 08:34 GMT

Although the single currency has recovered after holding above last month's low at 1.2009 and consolidation with upside bias remains for gain to 1.2065-70, a daily close above the upper Kumo (now at 1.2093) is needed to suggest low is possibly formed, bring test of resistance at 1.2140 but only break of previous resistance at 1.2178 would add credence to this view and suggest recent decline from 1.2650 has ended, bring a stronger rebound towards resistance at 1.2250.

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 03 14 09:34 GMT

Although kiwi made several attempts to the upside, the pair continued to falter just below the lower Kumo and has slipped again, suggesting caution on our near term bullishness and 0.7730 needs to hold to retain prospect of another rebound, above 0.7925-30 would bring test of resistance at 0.7975-78, however, only a daily close above resistance at 0.8035 would provide confirmation, bring retracement of recent decline for further gain to 0.8110-20 and then towards 0.8175-80

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 03 14 09:21 GMT

Aussie resumed recent decline after meeting renewed selling interest around the Tenkan-Sen, suggesting recent downtrend is still in progress and may extend further weakness to 0.8375-80 (61.8% projection of 0.9505-0.8643 measuring from 0.8911), however, loss of downward momentum should prevent sharp fall below 0.8300-10 and reckon 0.8250 would hold from here, risk from there is seen for another rebound to take place later this month.

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