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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 | Jul 28 15 09:12 GMT

Although the British pound retreated after rising to 1.5667 earlier, as renewed buying interest emerged at 1.5467 last week, consolidation with upside bias remains for another test of said resistance, break there would extend the rebound from 1.5330 low towards resistance at 1.5789. Looking ahead, only a daily close above there would signal the correction from 1.5930 has ended at 1.5330, bring further gain to 1.5850-60, then retest of this recent high later.

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 28 15 08:50 GMT

As the greenback has maintained a firm undertone, retaining our bullishness for the rise from 0.9072 low to bring further gain to resistance at 0.9719, break there would encourage for headway to 0.9770-75, however, near term overbought condition should prevent sharp move beyond there and reckon previous resistance at 0.9863 would hold from here, risk from there is seen for a retreat later. Looking ahead, only a daily close above 0.9863 would signal the correction from 1.0129 has ended at 0.9072, bring headway to 0.9900-10

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 27 15 08:14 GMT

Despite falling to 1.0809 last week, lack of follow through selling on break of previous support at 1.0819 and the subsequent rebound suggest further consolidation would be seen and recovery to 1.1215-20 cannot be ruled out, however, reckon upside would be limited to 1.1275-80 and price should falter well below resistance at 1.1436, bring another decline later.

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 27 15 07:57 GMT

Although the greenback rose again after brief retreat to 122.92, as price has retreated after meeting resistance at 124.48 last week, suggesting a temporary top has been formed there and consolidation with mild downside bias is seen for retracement of the rise from 120.41, a daily close below the upper Kumo (now at 123.06) would add credence to this view, then further fall to the Kijun-Sen (now at 122.45) would be seen, break there would extend weakness to the lower Kumo (now at 122.18)

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 14 15 09:10 GMT

The British pound finally found support at 1.5330 last week and has rebounded, suggesting minor consolidation above this level would be seen and recovery to the Kijun-Sen (now at 1.5594) cannot be ruled out, however, reckon upside would be limited to resistance at 1.5645 and if our view that top has been formed at 1.5930 is correct, price should falter below resistance at 1.5789, bring retreat later.

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 14 15 08:56 GMT

Although the greenback edged higher after finding renewed buying interest at 0.9330 late last week, break of resistance at 0.9543 is needed to signal another leg of corrective rise from 0.9072 is underway, then a stronger rebound to 0.9600-10 would be seen but upside should be limited to 0.9650-60 and price should falter below resistance at 0.9715-20, bring retreat later. If said resistance at 0.9543 continues to hold, then further choppy trading within 0.9151-0.9543 range isĀ  in store.

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 13 15 09:11 GMT

The single currency fell briefly to 1.0916 last week before finding support there and euro has rebounded since, suggesting a week of consolidation above this level would be seen, although the retreat from 1.1216 suggests initial downside bias is for weakness towards 1.1000, however, a daily close below support at 1.0992 is needed to signal the rebound from 1.0916 has ended, bring retest of this level

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 13 15 08:49 GMT

Although last week's retreat turned out to be stronger than expected, as the greenback found good buying interest at 120.41 and has staged another strong rebound, suggesting low has been formed there and consolidation with mild upside bias is seen for gain to 123.74 resistance, however, break of resistance area at 124.38-45 is needed to signal the correction from 125.86 top has ended, bring further gain to 125.00 first.

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 10 15 09:11 GMT

Although the single currency opened lower this week and dropped sharply to 133.78, euro found good support just above the upper Kumo and staged a strong rebound, suggesting consolidation above this level would be seen and test of the Kijun-Sen (now at 137.42) cannot be ruled out, however, reckon resistance at 138.13 would limit upside and bring further sideways trading. A daily close above this level would suggest low has been formed at 133.78 and extend gain to 138.65-70, then 139.50

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 10 15 09:08 GMT

The greenback surged again after brief pullback, adding credence to our bullish view that correction from 1.2835 has ended at 1.1920 earlier and upside bias remains for a retest of said recent high at 1.2835, above there would confirm medium term upmove has resumed for headway to 1.2900 and then 1.2920-25 (1.236 times projection of 1.1920-1.2563 measuring from 1.2128)

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 09 15 10:54 GMT

The single currency found renewed buying interest at 0.7055 earlier this week and has staged a strong rebound, suggesting a temporary low has possibly been formed at 0.6988 last week, hence consolidation with mild upside bias is seen for gain to the upper Kumo (now at 0.7269)but reckon upside would be limited to 0.7315-20 and price should falter below resistance at 0.7389, bring another decline later.

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 09 15 10:33 GMT

Despite opening lower again this week, the single currency found support at 1.0356 earlier this week and has rebounded, retaining our view that further consolidation within early established range would be seen with mild upside bias for gain towards resistance at 1.0546, however, reckon resistance at 1.0574 would limit upside and brng retreat later. Only above said resistance at 1.0574 would signal the rise from 1.0235 is still in progress

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 08 15 09:05 GMT

Kiwi met renewed selling interest at 0.6924 and has fallen quite sharply again, suggesting recent downtrend is still in progress and bearishness is seen for weakness to 0.6600, then 0.6560-65 (1.236 times projection of 0.7564-0.7025 measuring from 0.7232) but oversold condition should limit downside to 0.6500 and reckon 0.6400 would hold, price should stay well above 0.6350-60

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 08 15 09:00 GMT

Aussie met renewed selling interest at 0.7739 last week and has dropped sharply since, adding credence to our bearish view for early downtrend to resume and downside bias remains for weakness to 0.7350, then towards 0.7280-85 (100% projection of 0.8163-0.7598 measuring from 0.7849), however, reckon downside would be limited to 0.7200-05 and 0.7150-55 (1.236 times projection) should hold

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 07 15 09:20 GMT

The British pound met renewed selling interest at 1.5789 last week and has fallen again, suggesting top has been formed at 1.5930 and consolidation with downside bias is seen for weakness to the upper Kumo (now at 1.5444 and just above previous resistance at 1.5441), however, a daily close below this level is needed to add credence to this view, bring retracement of recent upmove to 1.5400-10 (38.2% Fibonacci retracement of 1.4566-1.5930)

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 07 15 08:58 GMT

The greenback staged a strong rebound after finding good support at 0.9244 last week, suggesting further choppy trading would be seen and gain to 0.9500-10 cannot be ruled out, however, reckon resistance at 0.9543 would limit upside and bring further choppy trading. Only a daily close above this level would signal another leg of corrective rise from 0.9072 is underway, then a stronger rebound to 0.9600-10 would be seen but upside should be limited to 0.9650-60

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 06 15 09:17 GMT

Although the single currency rebounded after finding support at 1.0954, as euro met renewed selling interest at 1.1278 and has retreated again, suggesting near term downside risk remains for the fall from 1.1436 to extend further weakness, below said support at 1.0954 would bring further fall to 1.0930-35 (100% projection of 1.1436-1.1135 measuring from 1.1235), however, as broad outlook remains consolidative, reckon downside would be limited to 1.0887 and price should stay well above support at 1.0819

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 06 15 08:59 GMT

Although the greenback opened lower again this week and near term downside risk remains for the erratic decline from 125.86 top to bring retracement of recent upmove, reckon downside would be limited to 121.55 (61.8% Fibonacci retracement of 118.89-125.86) and support at 120.64 should remain intact, bring another rally later. Above the Tenkan-Sen (now at 123.13) would bring test of resistance at 123.74

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 03 15 10:30 GMT

Although the single currency opened lower this week and dropped sharply to 133.78, euro found good support just above the upper Kumo and staged a strong rebound, suggesting consolidation above this level would be seen and test of the Kijun-Sen (now at 137.42) cannot be ruled out, however, reckon resistance at 138.13 would limit upside and bring further sideways trading.

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jul 03 15 10:11 GMT

The greenback only eased to 1.2304 before finding renewed buying interest again and dollar has surged throughout this week, the breach of previous resistance at 1.2563 has reinforced our view that the rise from 1.1920 low is still in progress and may extend further gain to resistance at 1.2667. Looking ahead, a daily close above there would signal the correction from 1.2835 top has ended at 1.1920 earlier

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Advanced Candlesticks and Ichimoku Strategies for Forex Trading

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