Forex Analysis & Reviews: Forecast and trading signals for EUR / USD on May 31. Analysis of the previous review and the pair's trajectory on Monday


The EUR / USD pair showed viable volatility and very good movements during the last trading day of the week. The pair performed only one global reversal during the day. And the fewer reversals within the day, the more convenient it is to trade. The signals were not the most accurate, nevertheless, they could be worked out. Before we begin to analyze trading signals and transactions, I would like to immediately note that the next package of macroeconomic reports from overseas did not arouse any interest among traders. The number "1" in the chart indicates the time when all the most important reports of the day were published. As you can see, sharp reversals did not occur at this time. The pair turned up much later, about half an hour after the data was published. Now let's start analyzing the trading transactions. Traders completely missed the first movement of the day - down 60 points. The first signal was formed when the US trading session opened - the pair went beyond the extreme level of 1.2160. However, there was no need to rush to open deals for selling here, because just below the Senkou Span B line, from which a rebound could be made. Therefore, it was necessary to wait for a breakthrough of the Senkou Span B line here. However, this foresight did not play into the hands of traders. A breakthrough of the Senkou Span B line took place, and it was necessary to open short positions here, but the downward movement did not continue, so the signal turned out to be false and brought a loss of 12 points.

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