Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 27 May, 2016

The forecast for the EURUSD currency pair

“Bullish” moods prevailed during yesterday’s this currency pair tradings and helped EURUSD to achieve the maximum price of 1.12166.

forex forecast eurusd 05 27 2016

The MACD histogram is in the positive zone, bellow its signal line, which sends a signal to sell EURUSD.

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

Preliminary data on US GDP will be released today at 15:30 (GMT +2: 00). We also want to remind you that at 20:15 a speech of Yellen, the chairman of the Federal Reserve System, is expected.

In case of positive news release the price of EURUSD may fall to the level of 1.11350.

An alternative is the EURUSD growth to 1.12300.

Forex forecast for the GBPUSD currency pair

During yesterday’s trading the price of GBPUSD was falling a good part of the day and reached the level of 1.46450.

forex forecast 05 27 2016

The MACD 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 GBPUSD.

Important news from the UK is not expected today.

We believe that today’s trading of the GBPUSD pair will take place in the price range of 1.46200-1.47150.

Forecast for the USDJPY currency pair

Many sharp turns of the USDJPY price were observed yesterday. The day began with the fall of USDJPY prices, which was later fully leveled up by the growth of USDJPY. But then the collapse of USDJPY price to the level of 109,700 appeared again, and this pair had no forces for growth.

forex forecast 05 27 2016

The MACD histogram is in the negative zone, joined its signal line, so there are no signals yet.

The similar situation is with the stochastic oscillator, wich sends no signals yet.

We assume that after yesterday’s leaps of the USDJPY price the more flat movement in the range of 109.550-110.000 will be observed today.

Forecast for the USDCAD currency pair

Our yesterday’s forecast for USDCAD reduction to the level of 1.29200 was confirmed, but despite this the market closed at 1.29773.

forex forecast usdcad 05 27 2016

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

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

We believe that the price of USDCAD may again exceed the level of 1.30900 today.

An alternative is the reduction of the USDCAD price to the level of 1.29700.