Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 04 July, 2016

The forecast for the EURUSD currency pair

On Friday, the price of EUR USD almost reached the level of 1.11700, the whole day was under influence of “bulls”.

forex-forecast eurusd-04-07-2016

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.

We predict that the price of EURUSD may fall to the level of 1.10400 today.

An alternative would be the EURUSD growth to the level of 1.11800.

Forecast for the GBPUSD currency pair

There was a flat price movement without any backgrounds for further price movement. And it still continues today.

forex-forecast gpbusd-04-07-2016

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 below the %D line and sends a signal to sell GBPUSD.

At 11:30 economic data on the United Kingdom was released, they were negative.

A sharp jump of the GBPUSD price is not expected today, and we assume further sideways trend of GBPUSD with a possible decrease to the level of 1.32000.

Forecast for the USDJPY currency pair

The USDJPY price fell 75 pips duringand was near the level of 102.450 during Friday’s trading.

forex-forecast usdjpy-04-07-2016

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

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

We assume that there can be the USDJPY rise to the level of 103.200 today.

An alternative can be the price decline to the level of 102.000.

Forecast for the USDCAD currency pair

Despite the fact that the prices of the market opening and closing were almost the same on Friday, trading of this currency pair was very active and the price ranged between 100 points.

forex-forecast-usdcad-04-07-2016

The MACD histogram is in the negative 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 expect today the USDCAD tradings in the range of 1.28700-1.29300.