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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 | Feb 05 16 09:40 GMT

Euro's anticipated rebound from 126.17 adds credence to our view that a temporary low has been formed there (our long position entered at 127.55 met indicated upside target at 129.55 with 200 points profit) and consolidation above this level would be seen with mild upside bias, above last week's high of 132.33 would extend the rebound from 126.17 for retracement of recent decline to

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 05 16 09:07 GMT

The greenback only recovered to 1.4326 before dropping again, adding credence to our view that top has been formed at 1.4690, indicated downside correction targets at 1.4145-50 - 61.8% Fibonacci retracement of 1.3813-1.4690, 1.4065 and 1.4000 had been met and bearishness remains for the fall from 1.4690 top to extend weakness to 1.3600, then 1.3540-50

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 04 16 09:02 GMT

As the single currency has retreated again after meeting resistance at 0.7666 last week, suggesting further consolidation below recent high of 0.7756 would be seen, below support at 0.7526 would bring correction towards 0.7460 (38.2% Fibonacci retracement of 0.6982-0.7756), however, reckon previous resistance at 0.7416 would contain downside

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 04 16 09:00 GMT

The single currency only eased to 1.0908 before finding renewed buying interest and the pair did rally from there in line with our bullish expectation, price broke above previous resistance at 1.1050, adding credence to our upside bias that medium term upmove has resumed, indicated upside targets at 1.1150 was reached late last week. Outlook remains supportive for further gain to

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AUD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 03 16 10:27 GMT

Although aussie did extend recent decline to as low as 79.25 last month, the subsequent stronger-than-expected rebound suggests a temporary low has possibly been formed there and consolidation with mild upside bias is seen, a firm break above resistance at 86.35 would add credence to this view, bring a stronger rebound to

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 03 16 10:06 GMT

Although aussie retreated earlier from 0.7046, the pair found renewed buying interest at 0.6919 late last month and staged a stronger-than-expected rebound, dampening our bearishness and suggesting a temporary low has been formed at 0.6827 earlier, hence consolidation above this level would be seen and retracement of recent decline towards

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GBP/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 02 16 10:10 GMT

The British pound found good support at 1.4080 and has rebounded since, renewed buying interest emerged last week at 1.4149 and cable has staged another bounce from there, suggesting further consolidation above said recent low at 1.4080 would be seen and recovery to 1.4510-15 (50% Fibonacci retracement of 1.4945-1.4080 and current level of the Kijun-Sen) cannot be ruled out

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 02 16 09:43 GMT

The greenback broke above 1.0107-25 resistance area, dampening  our bearishness and suggesting the rebound from 0.9786 is still in progress and may extend further gain to 1.0300, however, break of recent high at 1.0328 is needed to signal medium term upmove has resumed and extend gain to 1.0390-00 and then 1.0450, however, near term overbought condition should limit upside

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EUR/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 01 16 07:49 GMT

Although the single currency did rebound last week to as high as 1.0968, as euro has retreated again after faltering below resistance at 1.0993, suggesting further choppy consolidation would take place but as long as indicated support at 1.0778 holds, mild upside bias remains for another rebound later to 1.0900, then towards indicated resistance at 1.0993.

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Feb 01 16 07:25 GMT

Although the greenback fell briefly to 115.97 (took out our long position's stop at 116.35), dollar did find good buying interest there and has staged the anticipated strong rebound, adding credence to our view that low has been formed at 115.97 and consolidation with upside bias is seen for gain to 122.50 and later towards key resistance at 123.76.

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EUR/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 22 16 09:29 GMT

Although the single currency fell briefly to 126.17, lack of follow through selling and the subsequent rebound after holding above previous support at 126.09 suggest consolidation above this level would be seen and test of resistance at 128.76 is likely, however, break of 129.08-09 (38.2% Fibonacci retracement of 133.80-126.17 and previous resistance) is needed to signal a temporary low is formed

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USD/CAD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 22 16 08:46 GMT

The greenback finally retreated after rising to 1.4690 earlier this week, suggesting a temporary top is possibly formed there and consolidation with mild downside bias is seen for a test of the Kijun-Sen (now at 1.4209) but a daily close below there is needed to add credence to this view, bring test of 1.4145-50 (61.8% Fibonacci retracement of 1.3813-1.4690).

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EUR/GBP Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 21 16 07:22 GMT

The single currency has risen again after brief pullback, adding credence to our bullish view that the upmove from 0.6936 low is still in progress and may extend further gain to 0.7760-70, however, reckon upside would be limited to 0.7815-20 (1.5 times projection of 0.6936-0.7493 measuring from 0.6982) and price should falter well below 0.7880-85 (1.618 times projection), risk from there is seen for a much-needed correction to take place later.

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EUR/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 21 16 07:18 GMT

Last week's rebound together with the breach of previous resistance at 1.0940 suggests early pullback from 1.1050 has possibly ended at 1.0736 earlier and consolidation with upside bias remains for gain to 1.1000-10, however, break of said resistance at 1.1050 is needed to confirm medium term upmove has resumed and extend gain to 1.1150 and then towards 1.1250 which is likely to hold from here due to near term overbought condition.

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NZD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 20 16 09:28 GMT

Recent decline gathered momentum and broke below previous support at 0.6429, adding credence to our view that top has been formed at 0.6898 earlier (Oct 2015) and bearishness remains for further weakness to 0.6190-00, however, a daily close below previous support at 0.6236 is needed to confirm early bounce from 0.6074 low has indeed ended at 0.6898, then further decline to 0.6150-60 would follow

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AUD/USD Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 20 16 09:04 GMT

Aussie only recovered to 0.7049 before dropping again and with price finally broke below previous support at 0.6809, adding credence to our bearish view that the major downtrend has resumed and further weakness to 0.6750-60 (50% projection of 0.8163-0.6908 measuring from 0.7386), then 0.6700 would be seen, however, near term oversold condition should limit downside to 0.6600-10

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

The British pound tumbled again after meeting renewed selling interest at 1.4605 last week, adding credence to our bearish view that the major decline from 2014 high of 1.7192 has resumed and downside bias remains for further weakness to 1.4200-10, then towards 1.4150, however, loss of near term downward momentum should prevent sharp fall below 1.4090-00 and reckon psychological support at 1.4000 would hold

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USD/CHF Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 19 16 03:08 GMT

The greenback found good support at 0.9958 (just above the Kijun-Sen) and has rebounded, suggesting further consolidation would be seen, however, as long as indicated resistance at 1.0107 holds, mild downside bias remains for another test of the Kijun-Sen (now at 0.9956), a daily close below there would signal the rebound from 0.9881 has ended, bring another test of this level.

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

The single currency did find renewed buying interest at 1.0805 last week in line with our expectation and euro then staged another rebound from there to as high as 1.0985, retaining our bullishness for gain to indicated resistance at 1.0993, having said that, a daily close above there is needed to signal another leg of corrective rise from 1.0523 low has commenced and extend gain towards 1.1060 resistance

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USD/JPY Candlesticks and Ichimoku Analysis Print E-mail
Candlesticks and Ichimoku Weekly | Written by Action Forex | Jan 18 16 09:00 GMT

Although the greenback recovered after we entered a long position at 117.35, renewed selling interest emerged at 118.38 and dollar fell again to as low as 116.51 on Friday, loss of downward momentum should prevent sharp fall below 116.35-40 (50% projection of 120.66-116.69 measuring from 118.38), bring rebound later, above said resistance at 118.38 would suggest low is possibly formed

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