Details of the economic calendar from May 25

Data on durable goods orders in the United States increased by 0.4%. The changes are not so significant, so there was no reaction in the market.

Analysis of trading charts from May 25

During the pullback, the EURUSD currency pair returned to the limit of the previously passed level of 1.0636. Traders won back this value as variable support, which reduced the volume of short positions.

The GBPUSD currency pair reduced the volume of short positions during a short stagnation within the 1.2500 mark. This led to the prolongation of the correction with the renewal of the week's top.

Economic calendar for May 26

Today is a day off in some European countries on the occasion of the celebration of the Ascension of the Lord. This may lead to a partial reduction in trading volumes.

During the American trading session, data on claims for unemployment benefits in the United States will be published, where a reduction in their volume is predicted. This is a positive factor for the US labor market.

Statistics details:

The volume of continuing claims for benefits may be reduced from 1.317 million to 1.310 million.

The volume of initial claims for benefits may be reduced from 218,000 to 215,000.

Time targeting

US Jobless Claims - 12:30 UTC

Trading plan for EUR/USD on May 26

Despite the price rebound from the level of 1.0636, there is still no signal to buy the euro. The main increase in the volume of long positions will occur after holding the price above the value of 1.0750. This move will indicate a prolongation of the correction.

Until then, traders do not exclude the amplitude movement within the variable pivot point.

Trading plan for GBP/USD on May 26

Stable price retention above the value of 1.2600 in a four-hour period will lead to a subsequent move towards the resistance area of 1.2670/1.2720.

At the same time, traders allow a slowdown in the upward cycle due to the overbought condition of the British currency. In this case, an amplitude move within the limits of 1.2500/1.2600 is possible, which will eventually lead to a change in trading interest.

What is reflected in the trading charts?

A candlestick chart view is graphical rectangles of white and black light, with sticks on top and bottom. When analyzing each candle in detail, you will see its characteristics of a relative period: the opening price, closing price, and maximum and minimum prices.

Horizontal levels are price coordinates, relative to which a stop or a price reversal may occur. These levels are called support and resistance in the market.

Circles and rectangles are highlighted examples where the price of the story unfolded. This color selection indicates horizontal lines that may put pressure on the quote in the future.

The up/down arrows are the reference points of the possible price direction in the future.