Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 09 August, 2016

The forecast for the EURUSD currency pair

Fluctuations of the EURUSD price were very slight yesterday, within 35 pips, while the prices of market opening/closing didn’t differ a lot.

forex-forecast-eurusd-09-08-2016

The MACD histogram is in the negative zone, slightly below its signal line, and sends a weak signal to sell EURUSD.

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

We assume that today that price this currency pair will have a slight volatility in the range of 1.10500-1.10950 as well.

Forecast for the GBPUSD currency pair

The GBPUSD pair fell by 30 pips yesterday, while the trading session was quite calm.

forex-forecast-gpbusd-09-08-2016

The MACD histogram is in the negative 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 above the %D line and sends a weak signal to buy GBPUSD.

Important news regarding the production volume in the manufacturing industry in the UK will be released today at 11:30 (GMT +2: 00).

We expect today that the GBPUSD price will rise to the level of 1.30700.

Otherwise, the GBPUSD price can drop to the level of 1.29100.

Forecast for the USDJPY currency pair

We can see in the chart, our yesterday’s forecast for the growth of the USDJPY pair was confirmed and the price reached the level of 102.620.

forex-forecast-usdjpy-09-08-2016

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, the %K line is above the %D line, and sends a signal to buy USDJPY.

We believe that today the USDJPY price may fall to the level of 102.000, after what it can again renew the growth.

Forecast for the USDCAD currency pair

Yesterday’s trading session was quite volatile for USDCAD, despite the fact that the fluctuations were within 60 pips.

forex-forecast-usdcad-09-08-2016

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

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

We expect that the price of USDCAD will be in the range of 1.31400-1.32000 today.