Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 30 May, 2016

The forecast for the EURUSD currency pair

Friday’s tradings were held in favor of the US dollar strengthening and the price of EURUSD fell to 1.11100, confirming our expectations.

Forex forecast eurusd 05-30-2016

The MACD histogram is in the negative zone, above its signal line, what can be regarded as a signal to buy EURUSD.

The stochastics oscillator is almost in the overbought zone and sends a signal to buy EURUSD, as the %K is above the %D line.

Important news is not expected today, what can be used for slow strengthening of the US currency and the reduction of the EURUSD price to the level of 1.10600.

An alternative is slight growth of the EURUSD to 1.11700.

The forecast for the GBPUSD currency pair

Despite the lack of sharp leaps of the GBPUSD price, the price of this currency pair was strongly fluctuating, although within 70 pips.

At the moment we see that the GBPUSD reached the level of 1.46000.

Forex forecast usdgpb 05-30-2016

The MACD histogram is in the negative zone, slightly above the signal line, what can be regarded as very weak signal to buy GBPUSD.

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

We assume that the GBPUSD price may fall to the level of 1.45500 in the case of breaking down the support level of 1.46000. Otherwise, the price may rise to 1.46750.

The forecast for the USDJPY currency pair

Friday`s tradings of this currency pair ended with the growth of USDJPY, so that the price reached the level of 110.440. Today, from the beginning of trading the USDJPY price has risen more than 100 pips.

Forex forecast usdjpy 05-30-2016

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

The stochastics oscillator is in the overbought zone and sends no signals yet, as the %K and %D lines joined.

Today there is a strong increase in USDJPY, so this currency pair may have much less “bullish” forces and the USDJPY price may be within 111.000-111.800.

The forecast for USDCAD currency pair

During Friday`s tradings the price achieved the maximum price of 1.30683, then it slightly decreased and the market closed at a value of 1.30308.

Forex forecast usdcad 05-30-2016

The MACD histogram is in the positive zone, slightly above its signal line, and sends a weak signal to buy USDCAD.

The stochastics oscillator is in the neutral zone, the %K is below the %D line, what can be regarded as a signal to sell USDCAD.

Today we expect a slow growth of the USDCAD price to the level of 1.31250.

An alternative is return of the price to the level of 1.30250.