Trading signals for today - May 31

On the weekly timeframe of the instrument, the price goes beyond the red balance sheet line with the support of the ascending signal line of the Marlin oscillator and this line develops above the zero line of the oscillator (1.4190). From the perspective of this scale, the first growth target may be the October maximum of last year at the range of 59.66-60.12. Overcoming of this range will indicate the second target at the upper line of the price channel, approximately at the level of 61.30.

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The daytime timeframe also showed a buying signal. The price was fixed above the balance line (red on the chart) and the signal line of the Marlin oscillator acquired a positive value (0.2241), which indicates the consolidation of the trend towards growth.

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* The presented market analysis is informative and does not constitute a guide to the transaction.

The material has been provided by InstaForex Company - www.instaforex.com