The forecast for the EURUSD currency pair
Our yesterday’s forex forecast for this currency pair was fully confirmed and the price of EURUSD showed the fall all the day, reaching the minimum level of 1.11324.
The MACD histogram is in the negative zone, above its signal line, what can be regarded as a weak signal to buy EURUSD.
The stochastics oscillator is in the neutral zone, the %K line is slightly below the %D line and sends the very weak signal to sell EURUSD.
Today at 11:00 (GMT +2: 00) the IFO business climate index in Germany will be released, at 17:30 we expect news on the US crude oil reserves. The results of these important economic news can directly affect the price of EURUSD.
We predict that the price of EURUSD will continue to strive to overcome the level of 1.11000 today.
In case of positive news release in the euro area the price of EURUSD could show a slight growth to the level of 1.11800.
Forex forecast for the GBPUSD currency pair
We see on the hourly graph that the predicted growth of GBPUSD was confirmed and the price of this currency pair reached the level of 1.46350.
The MACD 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 the signal to sell GBPUSD.
We believe that GBPUSD will continue to grow today in order to achieve the level of 1.46800.
An alternative scenario is the reduction of the GBPUSD prices to the level of 1.45500.
Forecast for the USDJPY currency pair
“Bullish” moods prevailed entirely on the market during yesterday’s this pair tradings. The price of USDJPY rose from 109,240 to 110,100.
The MACD histogram is in the positive zone, below its signal line, which can be regarded as a signal to sell USDJPY.
The stochastic oscillator is in the neutral zone, but the %K line and the %D line joined together, so there are no signals yet.
We expect the further growth of USDJPY today to the level of 110,550.
The second scenario is a slight fall of the USDJPY price to the level of 109,580.
Forecast for the USDCAD currency pair
The yesterday’s forecast on the possible growth of USDCAD was not confirmed and the price ranged within 1.30900-1.31800.
The MACD histogram is in the negative zone, below its signal line, which can be regarded as a signal to sell USDCAD.
The stochastic oscillator is in the neutral zone, the %K is above the% D line and sends a weak signal to buy USDCAD.
Today, at 17:00 the decision on interest rates will be released by the Bank of Canada.
We assume that the USDCAD price may continue to fall to the level of 1.30400 on the back of positive news on the Canadian dollar.
An alternative is a growth to the level of 1.31500.