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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 | Aug 25 16 09:20 GMT

Although the single currency retreated after meeting resistance at 114.16, as long as support at 112.36 holds, further consolidation is in store and another corrective bounce to said resistance would be seen, above there would bring a stronger rebound to 114.90-00 but price should falter below the Kijun-Sen (now at 115.39) and bring another decline later. Below said support at 112.31-36 would extend the fall from 118.47 to 112.00, then towards

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 25 16 08:51 GMT

As the greenback recovered after falling to 1.2763 last week, suggesting consolidation above this level would be seen and another bounce to 1.2965 is likely, however, reckon the Kijun-Sen (now at 1.3009) would limit upside and bring another decline later, below 1.2850-60 would bring another fall to 1.2763 but break there is needed to extend the fall from 1.3254 to 1.2700, then towards

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 24 16 09:03 GMT

Kiwi only eased to 0.7165 before rising again (we recommended in our previous update to buy at 0.7120 and missed the entry), adding credence to our view that recent erratic rise from 0.6074 low has resumed and bullishness remains for further gain to 0.7390-00 and possibly towards 0.7450-55 (50% Fibonacci retracement of 0.8836-0.6074), however, reckon 0.7500 would hold from here due to bought condition

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 24 16 08:36 GMT

Although aussie has slipped again after meeting resistance at 0.7750 last week and further consolidation below 0.7758 would be seen, as long as 0.7685 holds, mild upside bias remains for another rebound, above 0.7720-25 would bring retest of 0.7758 but break there is needed to retain bullishness and extend the rise from 0.7145 to 0.7790-00 then test of previous resistance at 0.7835. Looking ahead, above there would signal early upmove from 0.6827 low has resumed

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 23 16 09:20 GMT

Although the British pound did retreat after meeting resistance at 1.3185 last week, as cable has rebounded again after finding support at 1.3023 on Friday, suggesting near term upside risk remains for the corrective rise from 1.2866 to extend gain to 1.3260-70, however, as broad outlook remains consolidative, reckon upside would be limited to 1.3345-50 and resistance at 1.3372 should hold

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 23 16 08:45 GMT

Dollar's selloff after meeting renewed selling interest at 0.9845 suggests a test of previous support at 0.9521 would be seen, however, a daily close below there is needed to retain bearishness and bring re-visit of 0.9444, once this level is penetrated, this would extend recent decline from 1.0328 top to 0.9375-80, then 0.9300 but near term oversold condition should limit downside to 0.9200 and reckon 0.9150 would hold

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 22 16 10:40 GMT

The single currency rallied after finding renewed buying interest at 1.1046earlier this month, the rise accelerated after breaking resistance at 1.1221, adding credence to our view that the rebound from 1.0912 is still in progress and may extend further gain to towards resistance at 1.1428, however, as broad outlook remains consolidative, reckon upside would be limited to 1.1500-10 and price should falter well below

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 22 16 10:23 GMT

Although the greenback broke below previous support at 100.00, lack of follow through selling and the subsequent rebound from 99.54 (last week's low) suggest further consolidation would be seen and test of 101.17 resistance cannot be ruled out, however, as broad outlook remains consolidative, reckon upside would be limited to 101.75-80 and resistance at 102.28 should hold, bring another decline later.

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 19 16 09:11 GMT

The single currency has remained confined within near term established range and further consolidation above 112.31 support would be seen and another corrective bounce to 113.90-00 cannot be ruled out, however, reckon upside would be limit to 114.90-00 and bring another decline later, below said support at 112.31 would extend the fall from 118.47 to 112.00, then towards 111.00, however, break of support at 110.82 is needed to

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 19 16 09:03 GMT

Recent selloff after breaking support at 1.2996 suggests early correction from 1.2461 has ended at 1.3254 last month, hence consolidation with downside bias is seen for weakness to 1.2760-65, then towards previous support at 1.2654, however, a daily close below latter level is needed to add credence to this view and signal medium term downtrend has resumed for further fall to 1.2590-00 first.

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 18 16 09:20 GMT

The single currency extended recent upmove and rose to as high as 0.8725 earlier this week, adding credence to our view that recent upmove from 0.6936 low has resumed, however, loss of upward momentum should prevent further sharp move and bring retreat later, below the Kijun-Sen (now at 0.8488) would suggest a temporary top is possibly formed, bring weakness to 0.8400 but support at 0.8344 should remain intact

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 18 16 09:12 GMT

Although the single currency rose to 1.0926 last week, the subsequent retreat from there has retained our view that further consolidation within recent established range would be seen and weakness to 1.0800 cannot be ruled out, however, reckon support at 1.0789 would limit downside and bring further choppy trading. A daily close below this level would revive bearishness and extend the fall from 1.0949 to 1.0750

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 17 16 09:40 GMT

Although aussie rebounded after finding support at 76.50, the pair met resistance at 78.65 early last week and has slipped again, break of said support would confirm the fall from 81.50 is still in progress and extend further weakness to 76.00, then towards 75.00-05, however, a daily close below support at 74.55 is needed to signal the rebound from 72.50 has ended at 81.50, bring further fall to 74.00 first.

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 17 16 09:13 GMT

Although aussie rebounded after finding support at 0.7636, as price has retreated after faltering below resistance at 0.7758, suggesting further consolidation below this level would be seen, however, said support at 0.7636 should limit downside and bring another rise, above said resistance at 0.7758 would extend the rise from 0.7145 to 0.7790-00 but break of previous resistance at 0.7835 is needed to signal early upmove from 0.6827 low has resumed

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 16 16 10:27 GMT

Cable met renewed selling interest at 1.3372 earlier this month and dropped since, the breach of previous support at 1.3058 signals correction from 1.2795 has ended earlier at 1.3481, however, as sterling found support at 1.2866 yesterday and recovered, suggesting consolidation would be seen and initial recovery to 1.3035 and possibly 1.3090-95 cannot be ruled out, however, price should falter below

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

Despite rebounding to 0.9845 early last week, lack of follow through buying and the subsequent selloff dampened our bullishness and further choppy trading would take place, whilst initial weakness to 0.9550-60 is likely, break of support at 0.9521 is needed to shift risk to downside for the fall from 0.9951 to bring test of previous support at 0.9444. Looking ahead, only a drop below this level would turn medium term outlook bearish and suggest the entire erratic decline from 1.0328 top is still in progress

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 15 16 09:05 GMT

Despite falling to 1.1046 earlier this month, the single currency found support there and has rebounded since last week, suggesting further choppy trading would be seen and another bounce to 1.1221 (last week's high) cannot be ruled out, however, break of previous resistance at 1.1234 is needed to signal the erratic rise from 1.0912 low is still in progress for retracement of recent decline to

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 15 16 08:39 GMT

Dollar's near term consolidation is likely to continue and although recovery to 102.20-30 and possibly the lower Kumo (now at 102.89) cannot be ruled out, reckon 103.20-25 would limit upside and bring another decline, below 100.68 support would extend the fall from 107.49 to 100.00 support but break there is needed to indicate medium term downtrend has resumed for retest of this year's low at 99.01.

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 12 16 10:03 GMT

As the single currency has recovered after falling to 112.31 late last week, suggesting consolidation above this level would be seen and corrective bounce to the Kijun-Sen (now at 114.67) cannot be ruled out, however, reckon 115.00 would limit upside and bring another decline later, a break of said support at 112.31 would extend the fall from 118.47 to 112.00, then towards 111.00, however, break of support at 110.82 is needed to confirm

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Aug 12 16 09:49 GMT

The greenback has dropped again after faltering below indicated resistance at 1.3200, suggesting further consolidation would be seen, however, as long as 1.2957 (yesterday's low) holds, prospect of another rebound remains and above 1.3085-90 would bring another bounce to said resistance at 1.3200, then towards previous resistance at 1.3254 but break of latte level is needed to retain bullishness and signal the erratic rise from 1.2461 low has resumed for

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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