Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 05 July, 2016

The forecast for the EURUSD currency pair

The EURUSD price maximum was 1.11600 during yesterday’s tradings, while “bullish” moods prevailed on the market.

forex forecast eurusd-05-07-2016

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

We believe that today the price of EURUSD could rise to the level of 1.12000, if current trends persist.

An alternative could be the EURUSD price reduction to the level of 1.10750.

Forecast for the GBPUSD currency pair

There was no something distinguishing yesterday and the flat price movement of GBPUSD preserved.

Today we see that GBPUSD begins to fall and have dropped to 1.31550.

forex forecast gpbusd-05-07-2016

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

The stochastics oscillator is in the oversold zone, there are no signals yet.

At 11:30 (GMT +2: 00) news on the business activity index in the UK services sector will be released. At 12:30 a speech of the Bank of England head Mark Carney is expected.

If the news will be weak, and Mark Carney will not report information for support of the British currency, we expect that the GBPUSD price could drop to the level of 1.31000.

An alternative could be the GBPUSD growth to the level of 1.32800.

Forecast for the USDJPY currency pair

Fluctuations of the USDJPY price were within 30 pips yesterday, there is a flat again on the market. Today we see the USDJPY price reduction to the level of 101.800.

forex forecast usdjpy-05-07-2016

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 oversold zone, the %K line is still below the %D line, and sends a signal to sell USDJPY.

The support levels can be the marks of 101.400 and 100.500.

An alternative may be the USDJPY growth to the level of 102.500.

Forecast for the USDCAD currency pair

Yesterday, the USDCAD currency pair yesterday showed the greatest activity in comparison with the pairs mentioned above, although the price decline was 85 pips.

forex-forecast-usdcad-05-07-2016

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

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

Today, we expect that the price of USDCAD will be within 1.28000-1.29000.