Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 11 July, 2016

The forecast for the EURUSD currency pair

Friday’s trading session of this currency pair have was active as a result of the NFP positive news release in the USA. First, the price dropped down to the level of 1.10000, after what there was a rapid growth to the level of 1.11200. The market closed at the price of 1.10511.

forex-forecast-eurusd-11-07-2016

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

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

Hot news is not expected today and we believe that the price of EURUSD may try to go down to the level of 1.10000.

Forecast for the GBPUSD currency pair

Fluctuations of the GBPUSD price on Friday were within 140 pips, and the maximum price was 1.30181.

The MACD histogram joined its signal and zero lines, so there are no signals yet.

forex-forecast-gpbusd-11-07-2016

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

The price movement of this currency pair is also dependent on the results of the NFP news.

The GBPUSD price can go down to the support level of 1.28780 today.

An alternative can be the GBPUSD growth to 1.29800.

Forecast for the USDJPY currency pair

NFP news added great volatility to the USDJPY currency pair. The price ranged from 101.270 to 99.997.

Today USDJPY shows the growth of more than 150 pips.

forex-forecast-usdjpy-11-07-2016

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

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

We expect today the USDJPY price will be in the range of 101.300-102.000.

Forecast for the USDCAD currency pair

Our forecast for Friday was confirmed and the USDCAD rose to the level of 1.30900.

forex-forecast-usdcad-11-07-2016

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

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

Today we expect the growth of USDCAD above the level of 1.31000.

The alternative may be the price reduction to the level of 1.30300.