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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 | Nov 27 14 08:48 GMT

As the single currency has retreated after faltering below resistance at 0.8047, suggesting consolidation would be seen, however, downside would be limited to 0.7850 and bring another rebound later, a daily close above indicated resistance at 0.8047 is needed to 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 | Nov 27 14 08:22 GMT

Although the single currency continued to trade with a soft tone and near term downside risk remains for recent decline to extend marginal weakness, as broad outlook is still consolidative, reckon 1.2000 would hold and bring another rebound later. Above the Kijun-Sen (now at 1.2040) would bring test of 1.2065-70, then the upper Kumo (now at 1.2094) and possibly towards resistance at 1.2140 but only break of previous resistance at 1.2178 would signal low is formed

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 26 14 07:58 GMT

Although aussie surged again to as high as 102.85 late last week, the subsequent retreat suggest consolidation below this level would be seen and pullback to 99.90-00 is likely, however, reckon downside would be limited to 98.60-65 (38.2% Fibonacci retracement of 91.80-102.85) and bring another rise later. Above 102.00 would bring retest of 102.85 but break there is needed to confirm upmove has once again resumed and extend gain to 104.00 and possibly towards chart resistance at 105.40

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 26 14 07:56 GMT

Although the Australian dollar rebounded after finding support at 0.8566 initially last week, renewed selling interest emerged around the Kijun-Sen and slipped again from 0.8723, the subsequent breach of support at 0.8541 signals recent downtrend has once again resumed and weakness to 0.8480 (50% projection of 0.9505-0.8643 measuring from 0.8911) is likely, however, loss of downward momentum should prevent sharp fall below 0.8400-10

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 25 14 08:40 GMT

As the British pound has remained under pressure after last week's fall to 1.5590, suggesting recent selloff from 1.7192 top is still in progress and bearishness remains for this fall to bring at least a stronger retracement of early upmove to 1.5530-35 (100% projection of 1.6525-1.5875 measuring from 1.6184), however, loss of near term downward momentum should prevent sharp fall below 1.5500 and reckon support at 1.5428 would hold

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 25 14 08:32 GMT

Although the greenback fell briefly to 0.9531 last week, the subsequent rally has retained our bullish view for recent upmove from 0.8699 low to resume after consolidation, break of strong resistance area at 0.9742-52 would confirm and extend further gain to 0.9839 and possibly towards 0.9900-10, however, weakening of upward momentum should prevent sharp move beyond 0.9950 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 | Nov 24 14 08:58 GMT

Despite rebounding to 1.2600 last week, the single currency faltered just below the Kijun-Sen and has slipped again, dampening our near term bullishness for retracement of recent decline and downside risk remains for a retest of recent low at 1.2358, break there would signal the decline from 1.3993 top has resumed for weakness to 1.2285-90 (50% projection of 1.3700-1.2501 measuring from 1.2887), however, loss of downward momentum should prevent sharp fall below 1.2200-10

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 24 14 08:37 GMT

Although the greenback extended recent upmove to as high as 118.98 last week, as price has eased from there, suggesting minor consolidation would bee seen and pullback to the Tenkan-Sen (now at 116.94) cannot be ruled out, however, a daily close below there is needed to bring retracement of recent upmove to 116.00 and possibly towards support at 115.46, however, downside should be limited to 115.00 and 114.65-70 should hold

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 21 14 09:36 GMT

The single currency finally retreated after rising to 149.14 yesterday and a shooting star bearish pattern was formed on the daily chart, suggesting consolidation below this level would be seen and pullback to 145.00, then 144.50-55 (38.2% Fibonacci retracement of 137.04-149.14), however, reckon 143.00-10 (50% Fibonacci retracement) would limit downside and support at 142.09 should remain intact

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 21 14 09:04 GMT

The greenback traded in relatively narrow range after retreating from recent high of 1.1467 and further consolidation is in store, however, reckon downside would be limited to 1.1215-20 (38.2% Fibonacci retracement of 1.0811-1.1467) and bring another rise later, above said resistance at 1.1467 would signal medium term uptrend is still in progress for gain to 1.1475-80 (61.8% projection of 1.0811-1.1386 measuring from 1.1122), then 1.1500-10

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 20 14 09:46 GMT

The single currency staged the anticipated rebound to 0.8039, our long position entered at 0.7825 met indicated target at 0.8000 with 175 points profit (equivalent to over 270 points profit in EUR/USD), however, a daily close above indicated resistance at 0.8047 is needed to add credence to our view that low has been formed at 0.7766 and test of previous resistance at 0.8066 would be seen, 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 | Nov 20 14 09:31 GMT

Although recent selloff has continued to put pressure on the single currency and near term downside risk remains for recent decline to extend marginal weakness, as broad outlook is still consolidative, reckon 1.2000 would hold and bring another rebound later. Above the Kijun-Sen 1.2044) would bring test of 1.2065-70, then the upper Kumo (now at 1.2112) and possibly towards resistance at 1.2140 but only break of previous resistance at 1.2178 would signal low is formed

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 19 14 08:14 GMT

Despite this month's anticipated resumption of medium term downtrend, the subsequent stronger-than-expected rebound from 0.7660 suggests a temporary low has possibly been formed there, hence consolidation with mild upside bias is seen for test of resistance at 0.7978, then 0.8000, 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 | Nov 19 14 08:11 GMT

The Australian dollar has rebounded after falling to 0.8541 earlier this month, suggesting a temporary low has possibly been formed and consolidation with mild upside bias is seen for recovery to 0.8800, then 0.8850, however, a daily close above resistance at 0.8911 is needed to provide confirmation and signal retracement of recent downtrend has commenced for a stronger rebound to 0.9000

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 18 14 09:00 GMT

The British pound dropped again after brief recovery to the Tenkan-Sen, suggesting recent decline from 1.7192 top is still in progress and bearishness remains for this fall to bring at least a stronger retracement of early upmove to 1.5530-35 (100% projection of 1.6525-1.5875 measuring from 1.6184), however, loss of near term downward momentum should prevent sharp fall below 1.5500-10

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 18 14 08:34 GMT

Although the greenback slipped to 0.9553, as dollar has rebounded after holding above the Kijun-Sen, bullishness remains for recent upmove to resume after consolidation, above 0.9695-05 would signal pullback from 0.9642 has ended and bring resumption of medium term upmove for gain to 0.9752, above there would extend further gain to 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 | Nov 17 14 09:55 GMT

Although the single currency retreated to 1.2394, as euro has rebounded after holding above recent low at 1.2358, retaining our view that consolidation above this level would be seen and mild upside bias remains for retracement of recent decline, above the Kijun-Sen (now at 1.2623) would add credence to our view that low has possibly been formed at 1.2358, bring a stronger rebound towards the lower Kumo

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 17 14 09:39 GMT

The greenback continued to surge after brief pullback, suggesting medium term upmove is still in progress and may extend further gain to 117.40-50, however, weakening of  near term upward momentum should prevent sharp move beyond 118.00-10, upside should be limited to 118.90-00, price should falter well below 119.75-80

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 14 14 08:21 GMT

The single currency only eased to 142.09 before finding renewed buying interest and has surged again, suggesting the rise from 134.14 is still in progress and further gain to 145.00, then retest of recent high at 145.69 would be seen, however, loss of near term upward momentum should prevent sharp move beyond 146.50-60 (61.8% projection of 137.04-144.22 measuring from 142.09 and 50% projection of 135.21-144.22 measuring from 142.09), price should falter well below 147.60-70

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Nov 14 14 08:19 GMT

The greenback finally retreated after rising to 1.1467 last week, suggesting consolidation below this level would be seen and pullback to the Kijun-Sen (now at 1.1275) is likely, however, reckon downside would be limited to 1.1215-20 (38.2% Fibonacci retracement of 1.0811-1.1467) and bring another rise later, above said resistance at 1.1467 would signal medium term uptrend is still in progress for gain to 1.1475-80 (61.8% projection of 1.0811-1.1386 measuring from 1.1122), then 1.1500-10

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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