Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 03 August, 2016

The forecast for the EURUSD currency pair

The EURUSD price showed growth of more than 70 pips yesterday and reached the level of 1.12300.

forex-forecast-eurusd-03-08-2016

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 slightly above the %D line and sends a weak signal to buy EURUSD.

Important economic news will be released at 15:15, 17:00 and 17:30 (GMT +2: 00).

The news positive result may contribute to the strengthening of the US dollar and EURUSD decline to the level of 1.11600.

An alternative is a growth up to 1.12500.

Forecast for the GBPUSD currency pair

Significant growth of the GBPUSD currency pair was observed yesterday, the price rose by more than 180 pips to the level of 1.33600.

forex-forecast-gpbusd-03-08-2016

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 above the %D line and sends an opposite signal to buy GBPUSD.

At 11:30 the news will be released again in the UK.

We believe that they can contribute to a positive growth of GBPUSD to 1.34000.

An alternative is the GBPUSD price reduction to 1.32800.

Forecast for the USDJPY currency pair

The fall of the USDJPY price to the level of 100.650 was more than 200 pips yesterday.

Today USDJPY tries to renew its growth.

forex-forecast-usdjpy-03-08-2016

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

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

We predict that the price of USDJPY may slightly rise to the level of 101.800.

Forecast for the USDCAD currency pair

The USDCAD price fell to the level of 1.30000 yesterday, but by the end of the trading session, it rose to 1.31100 again.

forex-forecast-usdcad-03-08-2016

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

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

We predict further price fluctuations within 1.30800-1.31700.