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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.


GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 27 16 10:28 GMT

As cable has fallen again after meeting renewed selling interest at 1.3121, suggesting the fall from 1.3445 is still in progress and test of previous support at 1.2866 would be seen, however, break there is needed to signal downtrend has resumed for a retest of 1.2795. Looking ahead, only a drop below this recent low would confirm medium term downtrend has resumed for further weakness to 1.2750, then

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 27 16 09:42 GMT

The greenback dropped again after faltering below resistance at 0.9819 (last week's high), retaining our view that further consolidation would be seen and test of 0.9650 support is likely, however, break of 0.9632 is needed to signal the rebound from 0.9537 has ended at 0.9885, bring further fall towards this level later. Looking ahead, only break of 0.9537 support would suggest a possible downside break of recent broad range

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 26 16 09:49 GMT

Although the single currency extended the fall from 1.1327 to as low as 1.1123 last week, the subsequent rebound dampened our bearishness and further choppy trading within recent established range is in store, whilst gain to 1.1280-85 cannot be ruled out, price should falter below said resistance at 1.1327, bring further consolidation.

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 26 16 09:18 GMT

The greenback has fallen again after meeting renewed selling interest at 102.79 last week, dampening our near term bullishness and downside risk remains for the retreat from 104.32 to extend weakness to 100.00, then towards support at 99.54. Having said that, only a drop below 99.54 would signal early downtrend has resumed for

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 23 16 09:58 GMT

The single currency ran into renewed selling interest at 116.09 last week and has dropped again, suggesting the erratic fall from 118.47 resistance is still in progress and may extend weakness to 112.00, then towards 111.00, however, a daily close below support at 110.82 is needed to confirm medium term downtrend has resumed for further fall to 110.00, then

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 23 16 09:24 GMT

As the greenback has retreated after faltering below previous resistance at 1.3254, suggesting further consolidation below this level would be seen with mild downside bias for weakness to the lower Kumo (now at 1.2954) and possibly towards 1.2900-10 but reckon support at 1.2822 would hold. Only a drop below this level would retain bearishness and signal recent erratic rise from 1.2461 has ended

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 22 16 10:47 GMT

As the single currency found decent demand at 0.8333 and has staged a strong rebound, suggesting the pullback from 0.8725 has ended there and consolidation with upside bias is seen for further gain to 0.8650, then test of resistance at 0.8692 but break there is needed to confirm upmove has resumed for retest of 0.8725. Once this level is penetrated, this would add credence to our view that recent upmove from 0.6936 low has resumed and extend headway towards

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 22 16 09:39 GMT

The single currency met resistance at 1.0985 and has dropped since, suggesting further consolidation below recent high at 1.1001 would be seen and downside risk remains for test of the upper Kumo (now at 1.0873), a daily close below there would extend the retreat from 1.1001 for retracement of recent upmove to the lower Kumo (now at 1.0828) but

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 21 16 09:49 GMT

Aussie's retreat from 79.10 turned out to be deeper than expected and the pair fell to as low as 76.00 last week, however, lack of follow through selling and the subsequent recovery suggest further consolidation would be seen and corrective bounce to the Kijun-Sen (now at 77.55), then 78.35-40 cannot be ruled out, however, 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 | Sep 21 16 08:58 GMT

Although aussie has rebounded after finding support at 0.7442 last week and initial upside risk is seen for recovery to the upper Kumo (now at 0.7631), however, if our view that top has been formed at 0.7758 is correct, upside would be limited to 0.7650-60 and bring retreat later, below 0.7500-10 would bring another test of said support at 0.7442 but

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

Although the British pound recovered from 1.3138, sterling met renewed selling interest around the Tenkan-Sen and slipped again late last week, dampening our bullishness and suggesting the rebound from 1.2866 has ended at 1.3445 earlier this month, hence downside risk remains for further weakness to 1.2940-50, however, as broad outlook remains consolidative, reckon downside would be limited to

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 20 16 09:49 GMT

Although dollar rebounded after finding support at 0.9650 earlier this month and initial recovery to 0.9825-30 cannot be ruled out, however, resistance at 0.9885 should cap upside and bring retreat later, below 0.9695-00 would signal the rebound from 0.9650 has ended, bring another test of this level, break there would extend weakness to

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 19 16 09:52 GMT

As the single currency did meet renewed selling interest at 1.1284 (we recommended to sell euro at 1.1280 in our previous update and a short position was entered) and has dropped again late last week, retaining our bearish view that the rebound from 1.1123 has ended at 1.1327 and another test of this level is likely, however, only break there would extend the fall from 1.1366 towards

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 19 16 09:39 GMT

The greenback rebounded to as high as 103.36 before retreating again (just missed our upside target at 103.50), suggesting further consolidation would take place and as long as support at 101.42 holds, mild upside bias remains for another rebound, above 103.36 would extend the erratic rise from 101.20 towards 103.81 resistance, however, as broad outlook remains consolidative, reckon upside would be limited to

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 16 16 06:18 GMT

Although the single currency rose briefly to 116.09 earlier this week, lack of follow through buying on break of previous resistance at 115.95 and current retreat suggest consolidation would be seen and pullback to 114.00-10 cannot be ruled out, however, reckon support at 103.81 would limit downside and bring another rebound later. Only a daily close above said resistance at 116.09 would bring test of previous resistance at 116.37 but

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 16 16 06:15 GMT

The greenback found renewed buying interest at 1.2822 last week and has rallied, price broke above previous resistance at 1.3148, suggesting the erratic rise from 1.2763 is still in progress and may extend further gain towards previous resistance at 1.3254, however, above there is needed to signal an upside break of recent broad range has occurred, bring subsequent rise to 1.3295-00 and possibly 1.3350 but price should falter below

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 14 16 06:10 GMT

Although kiwi extended recent rise to as high as 0.7486 last week, the subsequent retreat suggests top has possibly been formed there, hence consolidation with mild downside bias is seen for weakness towards support at 0.7203-04, a daily close below there would add credence to this view and extend fall towards the upper Kumo (now at 0.7135) but reckon support at 0.7087 would hold on first testing. Looking ahead, a sustained breach below 0.7087 would signal recent rise has ended and bring further fall to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 14 16 06:05 GMT

Although aussie staged a strong rebound to 0.7732 last week, the subsequent retreat after faltering below resistance at 0.7758 suggests further consolidation below this level would be seen and test of 0.7490 support is likely, however, break of 0.7421 support is needed to signal top has been formed at 0.7758 and suggest the rise from 0.7145 has ended, bring subsequent decline to 0.7370-80

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 13 16 08:35 GMT

Although the British pound rose to as high as 1.3445 last week, as sterling has retreated after faltering below previous resistance at 1.3481, suggesting further consolidation would be seen, however, still reckon downside would be limited to the lower Kumo (now at 1.3167), bring another rebound later, above 1.3375-80 would bring test of

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Sep 13 16 08:15 GMT

Despite rising to 0.9885 earlier this month, lack of follow through buying and the subsequent stronger-than-expected retreat suggest the greenback has remained confined within recent established range, hence further choppy trading would be seen and test of last week's low at 0.9650 cannot be ruled out, below there would extend weakness to

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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