WillRakowski

WillRakowski

- The previous trading week has seen a symmetric triangle consolidation of the price following a trend reversal and short rally on 11-12 June. - Over the coming week we could see the price finally break out of this pattern and continue upwards to the 0.96444 level, which has previously been an important support and resistance level. - Tightening Bollinger Bands...

WillRakowski

- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the lower trendline would support the continuation of this pattern. - Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May. - By close of...

WillRakowski

- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the support line would support the continuation of this pattern. - Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May. - By close of play...

WillRakowski Updated 

-Since my last analysis of GBPJPY, the price has rejected the 130.581 level, which was noted as a possible outcome. - A nice inverse head and shoulders pattern has emerged on this pair. - The distance between peak of inverted head and right shoulder is around 310 points, therefore from the breakout of the neckline early this morning, we can expect the price to...

WillRakowski

- Strong support level around 126.661, tested in early August and early September 2019. - Support level broken mid-March 2020 but quickly retraced, finding resistance at 135.268 level. - This resistance level also held around late September 2019. - In between this price range, the 130.581 price level is also of interest, having acted as both a resistance and...