Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 26 May, 2016

Forecast for the EURUSD currency pair

In the first half of yesterday’s trading the EURUSD price showed sideways trend, but then it rose a little slowly. Today, the price reached the level of 1.11900, and then went down.

forex forecast eurusd 05 26 2016

The MACD histogram is in the positive 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 below the %D line and sends an opposite signal to sell EURUSD.

Important news from the US will be released at 15:30 and 17:00 (GMT +2: 00) today. The release of positive news results will help EURUSD to come back to the level of 1.11350.

Otherwise, the price of EURUSD may continue to grow to the level of 1.12300.

Forecast for the GBPUSD currency pair

This currency pair tradings were held yesterday under the influence of “bullish” moods and the price of GBPUSD rose to the level of 1.47300.

forex forecast gpbusd 05 26 2016

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

The stochastic oscillator is in the neutral zone, but the %K line and the %D line joined together, so there are no signals yet.

News on the UK GDP will be released at 11:30.

We expect that, in general, the news will be positive, what will contribute to the growth of GBPUSD to the level of 1.47700.

An alternative is fall of the price to the level of 1.46500.

Forecast for the USDJPY currency pair

The maximum of the USDJPY price was 110,446 during yesterday’s trading, but then the price went down a little.

Today we see that the price of USDJPY plummented for 70 pips, but it resumes its position quickly enough.

forex forecast eurjpy 05 26 2016

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

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

We believe that the USDJPY has all chances to reach the level of 110,450 today.

Forecast for the USDCAD currency pair

The USDCAD price fell for more than 115 pips yesterday and reached the level of 1.30170.

forex forecast eurcad 05 26 2016

The MACD histogram is in the negative zone, almost 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 that today the price of USDCAD will tend to achieve the level of 1.29200. In case of strong news release in the US, the USDCAD price can show the growth to the level of 1.30700.

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