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

Forecast for the EURUSD currency pair

There was no essential activity and sharp fluctuations of the price for this pair yesterday. The EURUSD price didn’t rose above the level of 1.11650.

forex-forecast-eurusd-01-09-2016

The MACD histogram is in the negative zone, below its signal line, and sends a signal to sell EURUSD.

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

At 17:00 (GMT +2: 00) the business activity in the manufacturing sector (PMI) of the USA will be released.

In the case of the positive news release, the price of EURUSD could break through the support level of 1.11300 and decline to the level of 1.10500.

An alternative can be the growth to 1.12000.

Forecast for the GBPUSD currency pair

As we expected, the price of GBPUSD rose to the level of 1.31450 yesterday. The result of today’s positive news for the UK at 11:30 contributed to a sharp runup of GBPUSD by 100 pips up to the level of 1.32600.

forex-forecast-gpbusd-01-09-2016

The MACD histogram is in the positive zone, above its signal line, which can be regarded as a signal to buy GBPUSD.

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

We believe that the price of GBPUSD can still rise to the level of 1.32800, and then may be a slight rollback of the price.

Forecast for the USDJPY currency pair

Our yesterday’s forecast for the growth of USDJPY was fully confirmed and the price reached the level of 103.500.

forex-forecast-usdjpy-01-09-2016

The MACD histogram is in the positive zone, above its signal line, which can be regarded as a signal to buy USDJPY.

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

Today we expect a weak growth of USDJPY to the level of 103.800.

Forecast for the USDCAD currency pair

The trading session for this currency pair was quite calm, the maximum price was 1.31453.

forex-forecast-usdcad-01-09-2016

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

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

We believe that today the price of USDCAD may rise to the level of 1.31500.