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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 | May 02 16 09:11 GMT

The single currency only eased to 1.1215 last week before finding renewed buying interest there and euro has surged again since, suggesting the rise from 1.0523 is still in progress and may bring test of 1.1495 resistance, break there would extend gain towards 1.1550, then 1.1600-10, however, as broad outlook remains consolidative, reckon upside would be limited and

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | May 02 16 08:53 GMT

Despite last week's initial rise to 111.91, the subsequent selloff together with the breach of previous support at 107.63 signal early decline from 125.86 top is still in progress and may extend weakness to 105.70-75 (123.76-110.67 measuring from 113.80 and 100% projection of 113.80-107.63 measuring from 111.91), then towards 105.20 support

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 29 16 09:44 GMT

The single currency ran into heavy offers at 126.47 yesterday and tumbled from there on BOJ, signaling the rebound from 121.71 has ended there and medium term decline from 149.79 top is still in progress for further weakness to 120.50, then towards psychological support at 120.00, below there would extend fall to 119.50 and then

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 29 16 09:13 GMT

The greenback has continued heading south after brief recovery, suggesting recent decline from 1.4690 top is still in progress and may extend weakness to 1.2450 and possibly towards 1.2400, however, loss of near term downward momentum should prevent sharp fall below 1.2300-05 (50% projection of 1.4690-1.2857 measuring from 1.3219) and reckon 1.2250 would hold

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 28 16 10:41 GMT

Last week's late selloff formed a long black candlestick on the daily chart, suggesting a temporary top has been formed at 0.8117 earlier and downside bias is seen for retracement of medium term upmove, hence below this week's low at 0.7735 would extend the aforesaid fall to 0.7680-85 (38.2% Fibonacci retracement of 0.6983-0.8117), then towards

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 28 16 10:14 GMT

As the single currency has maintained a firm undertone after rising to 1.1017 late last week, suggesting near term upside bias remains for the rebound from 1.0810 to extend gain to 1.1025, break there would bring further rise to 1.1052 (61.8% Fibonacci retracement of 1.1201-1.0810) and then test of resistance at 1.1064, however, as broad outlook remains consolidative, reckon upside would be limited to

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

Although aussie extended the rebound from 80.70 to as high as 86.35 late last week, as price has retreated after faltering below previous resistance at 86.70, suggesting consolidation below said last week's high would be seen and pullback to the upper Kumo (now at 84.05) is likely, however, reckon the Kijun-Sen (now at 83.70) would contain 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 | Apr 27 16 09:12 GMT

As aussie has retreated after rising to 0.7835 late last week, suggesting consolidation below this level would be seen and pullback to the Kijun-Sen (now at 0.7656), then 0.7600-10 cannot be ruled out, however, reckon 0.7505-10 (38.2% Fibonacci retracement of 0.6974-0.7835) would limit downside and bring another rise later. Above said resistance would extend the rally from 0.6827 low to

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 26 16 09:39 GMT

The British pound finally staged the anticipated rise last week, our long position entered at 1.4160 reached our indicated upside target at 1.4360 and price eventually rose above previous resistance at 1.4515, adding credence to our bullish view that recent erratic rise from 1.3836 low has resumed and this move is likely to bring retracement of early decline to

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 26 16 09:10 GMT

The greenback only slipped back to 0.9585 before finding renewed buying interest and price rallied from there to as high as 0.9797 late last week, dampening our bearishness and near term upside risk remains for the rebound from 0.9499 low to bring retracement of recent decline, hence gain to 0.9800-10 and possibly 0.9865-70

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 25 16 13:21 GMT

The single currency met renewed selling interest at 1.1399 last week and has slipped again, retaining our view that further consolidation below recent high of 1.1465 would be seen and pullback to 1.1200 cannot be ruled out, however, reckon 1.1143-44 (50% Fibonacci retracement of 1.0822-1.1465 and previous support) would limit downside and bring another rise later. Above 1.1330-35 would bring test of

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 25 16 12:47 GMT

Last week's stronger-than-expected rebound suggests a temporary low has been formed at 107.63 earlier and consolidation with mild upside bias is seen for retracement of recent decline, hence gain towards the lower Kumo (now at 112.67) is likely, above there would extend gain to 113.00 (38.2% Fibonacci retracement of the intermediate fall from 121.69-107.63), however, near term overbought condition would limit upside to resistance at 113.80 and price should falter below

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 22 16 10:22 GMT

Although the single currency fell to as low as 121.71 earlier this week, the subsequent rebound suggests a temporary low has possibly been formed there and consolidation with mild upside bias is seen for test of the lower Kumo (now at 125.15), then 126.00, however, break of the upper Kumo (now at 127.21) is needed to add credence to this view, bring retracement of recent decline towards

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 22 16 09:53 GMT

Although the greenback fell again after meeting renewed selling interest at 1.2990 and fell to as low as 1.2593 earlier this week, as price has rebounded, suggesting test of the Tenkan-Sen (now at 1.2792) would be seen, however, break of the Kijun-Sen (now at 1.2945) is needed to signal a temporary low is formed, bring test of said resistance at 1.2990, a daily close above there would provide confirmation, bring retracement of recent decline to

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 21 16 10:04 GMT

As euro's retreat from 0.8117 has kept price under near term pressure, retaining our view that further consolidation below this level would be seen and initial downside risk remains for test of previous support at 0.7830, however, a daily close below there is needed to signal a temporary top has been formed there, bring retracement of recent upmove to the upper Kumo (now at 0.7780), then

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 21 16 09:53 GMT

Although euro's rebound from 1.0843 suggests near term upside risk remains for such rebound to extend gain to 1.1000 and possibly towards resistance at 1.1025, however, as broad outlook remains consolidative, reckon upside would be limited to 1.1050-55 (61.8% Fibonacci retracement of 1.1201-1.0810) and resistance at 1.1064 should hold from here, bring retreat later

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 20 16 04:04 GMT

Kiwi has surged again after finding renewed buying interest at 0.6824 last week, suggesting recent erratic rise from 0.6074 low is still in progress and may extend further gain to 0.7105-10 (61.8% Fibonacci retracement of 0.7744-0.6074), then 0.7150-60, however, overbought condition should prevent sharp move beyond 0.7200-10 and price should falter below

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 20 16 04:00 GMT

Although aussie has surged again this week and initial upside bias remains for recent erratic upmove from 0.6827 low to extend further gain to resistance at 0.7849, however, loss of upward momentum should prevent sharp move beyond 0.7865-70 (50% Fibonacci retracement of 0.8911-0.6827 and 50% projection of 0.6974-0.7723 measuring from 0.7492), price should falter well below

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 19 16 09:19 GMT

Although the British pound retreated last week from 1.4348 to 1.4090, cable found renewed buying interest there and has rebounded again, retaining view that low has possibly been formed at 1.4005 earlier and mild upside bias remains for the rebound from there to extend gain to 1.4360-70, break there would add credence to our view that the erratic fall from 1.4515 has ended, bring further rise to

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Apr 19 16 08:59 GMT

Although the greenback staged a strong rebound last week and rose to 0.9689, as price has retreated after faltering below the Kijun-Sen, suggesting consolidation with mild downside bias would be seen for test of the Tenkan-Sen (now at 0.9594), however, a daily close below there is needed to signal the rebound from 0.9499 has ended, bring retest of this level later.

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