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

The forecast for the EURUSD currency pair

Fluctuations during yesterday’s trading session for this currency pair were within 60 pips, while there were sharp runups of the EURUSD price to the levels of 1.11365 and 1.11825.

forex-forecast-eurusd-12-08-2016

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

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

Important news from the US is expected today at 15:30 (GMT +2: 00).

If the news result is positive, the price of EURUSD may decline to the level of 1.11000.

An alternative is the EURUSD growth to 1.11900.

Forecast for the GBPUSD currency pair

The British pound cost fell slightly yesterday and the GBPUSD price dropped to the level of 1.29500.

forex-forecast-gpbusd-12-08-2016

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

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

Today, we expect again that the GBPUSD price may fall to the level of 1.29000 if the US news will be positive.

An alternative is the resistance level of 1.29850.

Forecast for the USDJPY currency pair

We see in the graph that the price of USDJPY showed a rise of 100 pips yesterday and reached the level of 102.000.

forex-forecast-usdjpy-12-08-2016

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 line is slightly below the %D line, and sends a very weak signal to sell USDJPY.

Today, we expect USDJPY to rise to the level of 102.500.

Forecast for the USDCAD currency pair

Our forecast for the USDCAD decline was fully confirmed yesterday and the price reached the level of 1.29600.

forex-forecast-usdcad-12-08-2016

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 above the %D line and sends a signal to buy USDCAD.

We assume that the price of USDCAD will try to increase to the level of 1.30300 today.