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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/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 16 17 09:28 GMT

Although the single currency retreated to 1.0454 last week, euro found decent demand there and staged a stronger-than-expected rebound since, suggesting the corrective rise from 1.0340 low is still in progress, hence upside risk remains for another test of last week's high at 1.0685, break there would extend gain to

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 16 17 09:02 GMT

Despite last week's initial rebound to 117.53, dollar met renewed selling interest there and dropped throughout rest of the week, dampening our bullish view and near term downside risk remains for the erratic decline from 118.66 top to bring retracement of early upmove, hence downside risk remains for weakness to 113.50, then 113.00 but downside should be limited to

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 12 17 09:44 GMT

The single currency found renewed buying interest at 0.8450 and has staged a stronger-than-expected rebound, suggesting a temporary low has indeed been formed at 0.8304, hence consolidation with upside bias is seen for the rebound from there to bring retracement of recent fall from 0.9576, then another test of this week’s high at 0.8764 is likely, above there would extend gain to 0.8790-00 (38.2% Fibonacci retracement of 0.9576-0.8304) and possibly towards

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 12 17 09:21 GMT

Although the single currency slipped to 1.0680 early last week, as euro has rebounded again after holding above previous support at 1.0650, suggesting further consolidation above this level would be seen and another bounce to 1.0750-55 cannot be ruled out, however, still reckon upside would be limited to the Kijun-Sen (now at 1.0789) and bring another decline later, below 1.0680 would bring retest of 1.0650 but break there is needed to confirm the decline from 1.1001 has resumed and extend further fall to

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 11 17 08:31 GMT

Although aussie retreated quite sharply after surging to 87.50 last month, as the pair found good support at 83.75 and has rebounded since, retaining our bullishness and consolidation with mild upside bias is seen for further gain to 86.20-30, then 86.60-70, break of said resistance at 87.50 is needed to signal recent upmove has resumed and extend the erratic rise from 72.50 low for retracement of early downtrend to 88.00, then

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 11 17 08:10 GMT

AUD/USD – 0.7383


Aussie has continued edging higher after staging a strong rebound from 0.7158 (last month’s low), retaining our view that further consolidation above this level would be seen and the anticipated breach above the Kijun-Sen suggests initial upside risk remains for retracement of recent decline to 0.7425-30, however, reckon upside would be limited to the lower Kumo (now at 0.7488) and bring another decline. Below the Tenkan-Sen (now at 0.7281) would bring weakness to

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 10 17 08:25 GMT

Cable only recovered to 1.2433 last week before meeting renewed selling interest there (missed our recommended short entry at 1.2500) and the subsequent selloff adds credence to our bearish view that the fall from 1.2775 is still in progress and may extend weakness to 1.2082 support, however, break of recent low at 1.1995 is needed to confirm early downtrend has resumed

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 10 17 08:15 GMT

Failure to extend last week's rebound and the subsequent retreat from 1.0335 (just faltered below recent high at 1.0344) suggest recent upmove is not ready to resume yet and further consolidation is in store, however, as long as last week's low at 1.0087 holds, mild upside bias remains for another rebound, above 1.0220-25 would bring further gain to 1.0290-00 but

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 09 17 09:57 GMT

Although the single currency staged another strong rebound after falling marginally to 1.0340, as long as last week's high at 1.0623 holds, mild downside bias remains for another decline, below 1.0430-40 would bring retest of 1.0340 support but break there is needed to retain bearishness for medium term downtrend to extend further fall to 1.0300 and later towards

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 09 17 09:20 GMT

Although dollar's retreat from last week's high of 118.61 turned out to be deeper than expected, as dollar found buying interest at 115.07 and staged a strong rebound, retaining our bullishness for another test of 118.61-66 resistance but break there is needed to confirm recent upmove from 99.01 low has resumed and extend headway to

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 06 17 10:29 GMT

The single currency traded sideways after surging to 124.10 last month, retaining our view that further consolidation below this level would be seen and pullback to 121.50-60 cannot be ruled out, however, reckon support at 120.91 would limit downside and price should stay above the Kijun-Sen (now at 120.18), bring another upmove later. Above 123.85-90 would bring retest of 124.10

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 06 17 09:56 GMT

Although the greenback retreated after marginal rise to 1.3599 and consolidation below this level would be seen, as long as support at 1.3081 holds, mild upside bias remains for the erratic upmove from 1.2461 to resume after sideways trading, above said resistance at 1.3599 would extend gain to 1.3650, then 1.3700-10. Having said that, reckon upside would be limited to

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 05 17 09:53 GMT

Kiwi did faltered below 0.7240 and dropped in line with our bearish expectations, our short position entered at 0.7140 met indicated downside target at 0.6940 (with 200 points profit), price then fell to as low as 0.6862 before recovering, this anticipated decline adds credence to our bearish view that top has been formed at 0.7486 back in September and bearishness remains for further fall to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 05 17 09:31 GMT

Aussie found good support at 0.7158 late last month and has staged a rebound, suggesting 1-2 weeks of consolidation above this level would be seen and above the Kijun-Sen (now at 0.7342) would bring retracement of recent decline to 0.7390-00, however, reckon upside would be limited to the lower Kumo (now at 0.7475) and bring another decline.

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 04 17 09:39 GMT

Although cable slipped again after brief bounce to 1.2388 late last week, lack of follow through selling suggests consolidation would be seen and another bounce to said resistance at 1.2388 cannot be ruled out, however, reckon upside would be limited to the Kijun-Sen (now at 1.2487) and bring another decline later. A sustained breach below 1.2199 support would extend weakness to

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 04 17 09:18 GMT

As the greenback found renewed buying interest at 1.0057 last week and has staged a strong rebound, suggesting the pullback from last month's high at 1.0344 has ended there and consolidation with upside bias is seen for retest of said resistance, however, break there is needed to confirm recent upmove has resumed and extend gain to

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 03 17 10:53 GMT

Although the single currency staged another strong rebound last week to 1.0654, renewed selling interest emerged there and euro has dropped again, suggesting the rebound from 1.0352 (last month's low) has ended there, hence bearishness remains for test of 1.0372 support but break there is needed to add credence to this view, bring retest of

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 03 17 09:35 GMT

Although the greenback slipped last week to as low as 116.04, dollar found renewed buying interest there and has staged a strong rebound, suggesting the pullback from last month's high of 118.66 has possibly ended there and consolidation with upside bias is seen for test of 117.82 resistance, however, a daily close above there is needed to retain bullishness and

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 21 16 08:47 GMT

As the single currency has eased after rising to 124.10 last week, suggesting consolidation below this level would be seen and pullback to 121.50-60 cannot be ruled out, however, reckon support at 120.91 would limit downside and price should stay above the Kijun-Sen (now at 120.18), bring another upmove later. Above 123.25-30 would bring retest of 124.10

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Dec 21 16 08:27 GMT

As the greenback found decent demand at last week's low at 1.3081 and has staged a strong rebound, suggesting the fall from 1.3589 (last month's top) has ended at 1.3081 and initial upside risk remains for gain to 1.3435-40 but reckon upside would be limited to 1.3500 and price should falter below 1.3535-40, bring another decline later.

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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