Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 13 July, 2016

The forecast for the EURUSD currency pair

During yesterday’s trading session the currency pair of EURUSD rose to the level of 1.11260, and then there was a price drop to the level of 1.10600.

forex-forecast-eurusd-13-07-2016

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.

At 17:30 (GMT +2: 00) the important news release is expected in the United States.

In case of negative news release the price of EURUSD could rise to the level of 1.11000.

Otherwise, the US currency will continue to strengthen and the price of EURUSD will fall to 1.10000.

Forecast for the GBPUSD currency pair

The GBPUSD price showed yesterday growth of more than 320 pips and almost reached the level of 1.33000.

Currently the GBPUSD growth stopped by the resistance level of 1.33350.

forex-forecast-gpbusd-13-07-2016

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

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

We believe that the price of GBPUSD can reduce today to the level of 1.31500 and below, if the news is positive for the United States.

An alternative is the price growth to the level of 1.33500.

Forecast for the USDJPY currency pair

We see that the currency pair of USDJPY showed an increase of more than 240 pips yesterday and almost reached a level of 105.000.

forex-forecast-usdjpy-13-07-2016

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 joined the %D line, there are no signals yet.

We believe that the price of USDJPY will be in the range of 104.000-105.200 today.

Forecast for the USDCAD currency pair

The price of the USDCAD currency pair showed a drop yesterday and fell to the level of 1.29810.

forex-forecast-usdcad-13-07-2016

The MACD histogram is in the positive zone, 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 same signal to buy USDCAD.

Today, we expect that the price may rise up to the level of 1.31300.