Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 02 September, 2016

Forecast for the EURUSD currency pair

Economic news over the USA yesterday at 17:00 was negative, as the result the price of EURUSD shot up by 60 pips to the level of 1.12000.

forex-forecast-eurusd-02-09-2016

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

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

Very important news from the US Nonfarm Payrolls is expected today at 15:30 (GMT +2: 00), at the same time the data on the level of unemployment will be released as well.

If the news result is positive, the price of EURUSD may fall to the level of 1.10800.

Otherwise, a growth to 1.13000 is possible.

Forecast for the GBPUSD currency pair

Positive news for the British pound yesterday at 11:30 contributed to the rapid growth of GBPUSD by more than 185 pips and the price crossed the mark of 1.33150.

forex-forecast-gpbusd-02-09-2016

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

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

Today’s movement of this pair will largely depend on the outcome of the NFP news. If the news will be positive, the price can close all yesterday’s growth and reach the level of 1.31700.

An alternative is the GBPUSD growth to 1.33300.

Forecast for the USDJPY currency pair

In the graph, we can see yesterday’s price runup almost to the level of 104.000, after which the price of USDJPY went back to its previous marks.

forex-forecast-usdjpy-02-09-2016

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.

We believe that today it will be possible to view the growth of USDJPY price to the level of 104.500.

The support level is 103.000.

Forecast for the USDCAD currency pair

There was a slight increase for this currency pair to the level of 1.31477 yesterday, after which the price of USDCAD fell to the market opening price.

forex-forecast-usdcad-02-09-2016

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

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

Except important news from NFP in the USA, the news across Canada will be released at 15:30 as well.

We believe that the USDCAD price today can grow to the level of 1.32000.

Otherwise, it may fall to 1.30600.