Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 12 July, 2016

The forecast for the EURUSD currency pair

Fluctuations in prices for this currency pair were within 60 pips yesterday, while the price of opening and closing did not differ a lot.

forex-forecast-eurusd-12-07-2016

Today we are observing a sharp jump of the price up to the level of 1.11200.

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

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

If current trends preserve, the price of EURUSD may try to rise to the level of 1.11600.

An alternative is the EURUSD price reduction to the level of 1.10600.

Forecast for the GBPUSD currency pair

We can see in the graph that our forecast for growth of GBPUSD was confirmed and the price rose to the level of 1.30000. The GBPUSD price rose to the level of 1.31500 today.

forex-forecast-gpbusd-12-07-2016

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

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

At 12:00 (GMT +2: 00) a speech of the head of the Bank of England Mark Carney is expected. Positive news may contribute to the growth of GBPUSD to the level of 1.32000.

An alternative can be the GBPUSD price reduction to the level of 1.30000.

Forecast for the USDJPY currency pair

The USDJPY currency pairshowed rapid growth of more than 225 pips yesterday and the price reached the level of 102.800.

forex-forecast-usdjpy-12-07-2016

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 below the %D line, and sends a signal to sell USDJPY.

We believe that USDJPY may rise today to the level of 103.700. But the price can also drop to the level of 102.500.

Forecast for the USDCAD currency pair

Our expectations regarding the USDCAD growth were confirmed and the price rose to 1.31320.

forex-forecast-usdcad-12-07-2016

Today, there is a decline of the USDCAD price, which is already lower than 1.30500.

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

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

We assume that the price of USDCAD can achieve the level of 1.30000 today, after what the growth can renew again.