The forecast for the EURUSD currency pair
The possible strengthening of the American dollar did not happen yesterday, on the contrary, the price of EURUSD showed the growth to the level of 1.11450.
Today’s level of resistance is marked with 1.11550.
The MACD histogram is in the positive zone, below its signal line, what can be regarded as a signal to sell EURUSD.
The stochastics oscillator is in the oversold zone, but still sends a signal to sell EURUSD, as the %K line is below the %D line.
Important news from Germany about change of the number of the unemployed in Germany will be released today at 10:55 (GMT +2: 00). At 12:00 we are waiting for the news release about the inflation level in the euro area, and at 17:00 the index of US consumer confidence will be released.
Positive news from the USA can promote reduction of the EURUSD price below the level of 1.11000.
Otherwise, the price of EURUSD could continue its yesterday’s growth to the level of 1.12000.
Forecast for the GBPUSD currency pair
We have not seen particularly sharp price changes during yesterday’s trading and GBPUSD rose by only 30 points in one day.
Today we saw a very sharp price jump to the level of 1.47240 and back.
The MACD histogram 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 suppose that the GBPUSD price could fall to the level of 1.45550.
An alternative is the renewal of growth to the level of 1.47000.
Forecast for the USDJPY currency pair
The growth of the currency pair stopped near the 111,450 level yesterday. Today the price is near the level of 111,110.
The MACD histogram is in the positive zone, joined its signal line, there are no signals yet.
The stochastic oscillator is in the neutral zone and sends a signal to sell USDJPY, as the %K line is below the %D line.
In case of the positive news release in the US the USDJPY price may rise to the level of 111,850.
A secondary scenario is the USDJPY price reduction to the level of 110.600.
Forecast for the USDCAD currency pair
During yesterday’s trading the price of USDCAD was very close to the level of 1.31000, but did not overcome it.
The MACD histogram is in the negative zone, but there are no certain signals yet.
The stochastic oscillator is in the overbought zone, the %K line is above the% D line and sends a signal to buy USDCAD.
Data on Canadian GDP will be released today at 15:30.
We expect that the USDCAD price will approach to the level of 1.31300.