Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 10 August, 2016

The forecast for the EURUSD currency pair

The price of the EURUSD currency pair rose to the level of 1.11200 yesterday, and today it continues to rise to the level of 1.11550.

forex-forecast-eurusd-10-08-2016

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

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

At 17:30 the news from the USA is expected.

We believe that the price of EURUSD can show growth to the resistance level of 1.11800.

An alternative option can be the EURUSD price reduction to 1.11000.

Forecast for the GBPUSD currency pair

The GBPUSD pair price declined to the level of 1.29600 yesterday but by the end of the trading session, the price rose a little up to 1.30000.

forex-forecast-gpbusd-10-08-2016

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

The stochastics oscillator is in the oversold zone, the %K line is below the %D line and but this signal to sell GBPUSD is very weak.

We expect today GBPUSD to increase to the level of 1.31000.

Otherwise, the GBPUSD price can drop to 1.29800.

Forecast for the USDJPY currency pair

During yesterday’s trading session the price of USDJPY dropped to the level of 101,800, and today we see a further fall of USDJPY to 101.200.

forex-forecast-usdjpy-10-08-2016

The MACD histogram is in the negative 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.

The USDJPY price can decline today to the level of 100.900.

An alternative is a growth to 101.900.

Forecast for the USDCAD currency pair

The USDCAD price declined to the level of 1.31100 yesterday and continues to fall today.

forex-forecast-usdcad-10-08-2016

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

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

The USDCAD price fall to the level of 1.30000 is not excluded today.

An alternative is a weak growth of USDCAD to 1.30900.