Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 14 July, 2016

The forecast for the EURUSD currency pair

The EURUSD currency pair showed an upward movement of 75 pips yesterday and the price reached the level of 1.11200.

forex-forecast-eurusd-14-07-2016

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

Important news from the US today will be released today at 15:30 (GMT +2: 00).

If the result is negative, the price of EURUSD may try to rise to the level of 1.11500.

An alternative is strengthening of the US currency and EURUSD decline to the level of 1.10700.

Forecast for the GBPUSD currency pair

We see in the GBPUSD graph, that our yesterday’s forecast was fully confirmed and the GBPUSD price dropped to the level of 1.31350.

forex-forecast-gpbusd-14-07-2016

Today GBPUSD recovers lost positions and the price goes up.

The MACD histogram is in the negative 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 14:00 the release of the Bank of England decision on the new rate is expected.

This news may empower “bulls” and the GBPUSD price can rise to 1.33300.

Another scenario can be the next price drop to the level of 1.30800.

Forecast for the USDJPY currency pair

Trading session of this pair was active yesterday, the price fluctuated in the range of 104.000-104.850.

forex-forecast-usdjpy-14-07-2016

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 believe that the price of USDJPY can achieve the level of 106.000 today.

Forecast for the USDCAD currency pair

The USDCAD price showed a drop of more than 120 pips yesterday and dropped to the level of 1.29600.

forex-forecast-usdcad-14-07-2016

The MACD histogram is in the negative zone, joined its signal line, so there are no signals yet.

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 today the USDCAD price movement will be in the range of 1.28850-1.29900.