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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 | Jun 24 16 10:01 GMT

Although the single currency staged a stronger-than-expected rebound to 122.02, the subsequent selloff to 109.49 today signals the major fall from 149.79 top has resumed, however, the quick bounce from 109.49 suggests consolidation above this level would be seen and recovery to 115.00, then towards the Tenkan-Sen

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 24 16 09:15 GMT

As the greenback has staged a strong rebound after holding above previous support at 1.2654, suggesting consolidation with mild upside bias would be seen and gain towards resistance at 1.3076 cannot be ruled out, however, break there is needed to retain bullishness and signal another leg of corrective rise from 1.2461 low is underway and extend gain to

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 23 16 09:34 GMT

Although the single currency rose briefly to 0.7995, euro ran into heavy offers there and has tumbled since, suggesting the rebound from 0.7565 (last month's low) has ended there, hence downside risk remains for weakness to 0.7600, however, a sustained breach below said support at 0.7565 is needed to retain bearishness and extend the selloff from 0.8117 top to previous support at 0.7526, then 0.7500

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 23 16 09:04 GMT

The single currency did drop in line with our bearish expectations, our short position entered at 1.1050 reached indicated downside target at 1.0850 with 200 points profit as price fell to as low as 1.0775 last week, adding credence to our view that another leg of decline from 1.1201 top is underway and further weakness to 1.0735-40 (100% projection of 1.1201-1.0810 measuring from 1.1129), then 1.0700 would be seen

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 22 16 10:32 GMT

Although aussie resumed recent decline and dropped to as low as 75.60 last week, the subsequent rebound formed a candlestick with a long lower shadow, suggesting a temporary low has possibly been formed there, hence consolidation with mild upside bias is seen for recovery to 78.70-75, break there would bring retracement of recent decline to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 22 16 09:44 GMT

As aussie found good support at 0.7285 last week and staged a strong rebound since, suggesting the erratic rise from 0.7145 is still in progress and may extend gain to the upper Kumo (now at 0.7541), then 0.7570-75 (61.8% Fibonacci retracement of 0.7835-0.7145) but reckon upside would be limited to 0.7600-10 and price should falter below

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

Despite last week's brief drop to 1.4012, the subsequent reversal together with this week's gap-up opening signal the retreat from 1.4770 has ended there and erratic rise from 1.3836 low has resumed, hence retest of 1.4770 would be seen, however, break there is needed to retain bullishness and extend gain to 1.4880-85 (50% Fibonacci retracement of 1.5930-1.3836) and then

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 21 16 07:58 GMT

As the greenback has remained under pressure after this month's initial selloff, adding credence to our view that early rebound from 0.9444 has possibly ended at 0.9956 and below support at 0.9572 (last week's low) would extend weakness to 0.9500-10 but reckon recent low at 0.9444 would hold on first testing, price should stay above

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 20 16 10:44 GMT

Although the single currency fell to as low as 1.1131 last week, the subsequent reversal from there signal the retreat from 1.1416 has ended there and gain towards 1.1400 cannot be ruled out, however, reckon upside would be limited to resistance at 1.1416 and resistance at 1.1447 would hold from here. Only a firm break above there would signal the retreat from 1.1616 has ended at 1.1098, bring further rise to

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 20 16 09:50 GMT

Last week's selloff after breaking support at 105.55 confirms our view that recent selloff from 125.86 top is still in progress and may extend further weakness to 103.35-40 (50% projection of 121.69-105.55 measuring from 111.45), break there would bring subsequent fall to 102.50-55 but price should stay well above 101.45-50

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 17 16 10:19 GMT

The single currency met renewed selling interest at 122.70 last week and tumbled to as low as 115.50 yesterday before recovering, suggesting consolidation above this level would be seen, however, reckon upside would be limited to the Tenkan-Sen (now at 119.10) and the Kijun-Sen (now at 119.85) would hold, bring another decline, below said support at 115.50 would extend recent decline from 149.79 top to

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 17 16 09:38 GMT

Despite yesterday's brief rise to 1.3086, lack of follow through buying and the subsequent retreat formed a shooting star on the daily chart and if today ends with a long black candlestick, this would signal the rebound from 1.2654 has ended there, bring test of 1.2826 support, then towards the lower Kumo (now at 1.2780) but a daily close below there is needed to provide confirmation

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 16 16 07:10 GMT

After finding decent demand at 0.6675 late last month, kiwi has staged a strong rise from there since, adding credence to our bullish view that the erratic rise from 0.6074 low (2015 low) is still in progress and may bring a stronger retracement of medium term downtrend, above resistance at 0.7148 (last week's high) would extend gain to 0.7232 resistance and later towards 0.7300, however, reckon upside would be limited to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 16 16 07:03 GMT

Despite last week's rise to 0.7504, the subsequent retreat suggests consolidation would be seen and weakness to the Kijun-Sen (now at 0.7325) cannot be ruled out, however, a daily close below 0.7290-95 is needed to signal the rebound from 0.7145 has ended, bring weakness to 0.7200-05. Looking ahead, only below latter level would add credence to this view, bring retest of previous support at 0.7145 and later towards 0.7100-05.

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 15 16 09:12 GMT

Cable met renewed selling interest at 1.4662 early last week and tumbled from there since, the decline accelerated after breaking support at 1.4332-52, suggesting early rebound from 1.3836 has ended at 1.4770 last month, hence consolidation with downside bias remains for further weakness towards key support at 1.4005. Looking ahead, a sustained breach below this level is needed to provide confirmation

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 15 16 08:48 GMT

As the greenback has recovered after falling to 0.9578 last week, suggesting consolidation above this level would be seen and corrective bounce to the Tenkan-Sen (now at 0.9749, same level as 50% Fibonacci retracement of 0.9920-0.9578) cannot be ruled out, however, reckon upside would be limited to 0.9780-89 (previous resistance and 61.8% Fibonacci retracement) and bring another decline later.

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 14 16 10:37 GMT

The single currency has remained under pressure after retreating from 1.1416 (last week's high), suggesting near term downside risk remains for the fall from there to extend weakness to 1.1200, however, as this move is viewed as retracement of the rise from 1.1098, reckon downside would be limited to 1.1170-80 and bring another rebound later. Above 1.1300-10 would suggest low is formed, bring rebound to 1.1350-60

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 14 16 10:15 GMT

As the greenback has remained under pressure, suggesting recent selloff from 125.86 top is still in progress and may extend further weakness to 105.35-40 (50% projection of 111.45-106.37 measuring from 107.90), however, loss of near term downward momentum should prevent sharp fall below psychological support at 105.00 and reckon 104.75-80 (61.8% projection) would limit downside

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 10 16 09:24 GMT

Although The single currency has fallen again after brief bounce to 122.70 earlier this week and near term downside risk remains for weakness to 120.00, near term oversold condition should prevent sharp fall below 119.00 and reckon 118.00-10 would hold from here, risk from there is seen for a rebound to take place later this month.

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jun 10 16 08:34 GMT

The greenback has dropped after meeting renewed selling interest at 1.3144 and the breach of previous support at 1.2911 suggests rebound from 1.2461 has possibly ended at 1.3188 and mild downside bias is seen for weakness to 1.2650-55, then 1.2600, however, below there is needed to add credence to this view, bring further fall to 1.2540-50 but price should stay above

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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