Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 01 July, 2016

The forecast for the EURUSD currency pair

Fluctuations of the EURUSD price were in the range of 1.10240-1.11540 yesterday.

forex-forecast eurusd-01-07-2016

The MACD histogram has merged with its signal and zero lines, so there are no signals yet.

The stochastics oscillator is in the neutral zone, the %K line is above the %D line and sends a signal to buy EURUSD.

News from Germany will be released at 10:55 (GMT +2: 00), and from USA – at 17:00.

We continue to expect that the price of EURUSD could rise to the level of 1.11800.

The support level can be1.10750.

Forecast for the GBPUSD currency pair

Yesterday there was a weakening of the British pound again and the price of GBPUSD fell almost to 1.32000.

forex forecast gpbusd-01-07-2016

The MACD histogram is in the negative zone, joined its signal line, so there no certain signals yet.

The stochastics oscillator is in the neutral zone, the %K line is above the %D line and sends a signal to buy GBPUSD.

At 11:30 the data on the business activity index in the manufacturing sector in the UK will be released.

Today we expect the GBPUSD price movement in range of 1.32000-1.33500.

Forecast for the USDJPY currency pair

The flat movement of the USDJPY price is being observed for several days.

forex forecast usdjpy-01-07-2016

Today there is a strengthening of the Japanese yen.

The MACD histogram is in the negative zone, below its signal line, which can be regarded as a signal to sell USDJPY.

The stochastic oscillator is in the neutral zone, the %K line joined the %D line, so there are no certain signals yet.

We expect the USDJPY price decline to the level of 102.000.

An alternative is the growth to 103.200.

Forecast for the USDCAD currency pair

Yesterday’s tradings of the USDCAD pair were very active, so they went through both of our scenarios of price movement.

forex forecast usdcad-01-07-2016

The MACD histogram is in the negative zone, below its signal line, which can be regarded as a weak signal to sell USDCAD.

The stochastic oscillator is in the oversold zone, the %K is below the %D line and sends a signal to sell USDCAD.

We expect that the tradings will be in range of 1.29000-1.30000 today.