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

The forecast for the EURUSD currency pair

As we expected yesterday, the EURUSD price rose to the level of 1.11900, but soon it fell slightly.

Today, we are observing the EURUSD price fall.

forex-forecast-eurusd-11-08-2016

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

The stochastics oscillator is in the oversold zone, the %K line is slightly above the %D line and sends a weak signal to buy EURUSD.

We expect that the price of EURUSD may fall today to the level of 1.11000, while an alternative can be a slight increase to 1.11800.

Forecast for the GBPUSD currency pair

The price of GBPUSD rose to the level of 1.30950 yesterday, but it didn’t manage rise above it, at the same the trading session closed at 1.30052.

forex-forecast-gpbusd-11-08-2016

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 oversold zone, the %K line is still below the %D line, but this signal to sell GBPUSD is very weak.

We believe that the price of GBPUSD can reduce today to the level of 1.29000.

Otherwise, GBPUSD may rise to the level of 1.30400.

Forecast for the USDJPY currency pair

During yesterday’s trading session the “bearish” moods prevailed on the market and the price of USDJPY dropped to 100.965, thus confirming our basic forecast.

Today, USDJPY tried to rise to 101.500.

forex-forecast-usdjpy-11-08-2016

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

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

We expect today the growth of USDJPY to the level of 101.800.

Otherwise, USDJPY can decline to 101.000.

Forecast for the USDCAD currency pair

The USDCAD currency pair showed a drop of more than 130 pips to the level of 1.29900, thus fully confirming our expectations. Despite this, the trading session closed at the price of 1.30558.

forex-forecast-usdcad-11-08-2016

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

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 can again drop to the level of 1.30150 today.