Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 15 June, 2016

The forecast for the EURUSD currency pair

Our yesterday’s forecast for the EURUSD price reduction was fully confirmed and the price reached 1.12000.

forex forecast eurusd 15-06-2016

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

The stochastics oscillator has just got off the oversold zone, the %K line is below the %D line and sends a signal to sell EURUSD.

A large number of important news will be released in the USA at 15:30 (GMT +2: 00) and 17:30 today. At 21:00 the FRS decision on the basic interest rate will be released as well, and at 21:30 Yellen’s speech, the chairman of FRS, is expected.

We believe that the interest rate will remain at the same 0.50% rate, which can be seen as a weakening factor for the US currency and the price of EURUSD can rise to 1.12900.

An alternative is the EURUSD price reduction to the level of 1.11700.

Forecast for the GBPUSD currency pair

As expected, the price of GBPUSD declined to the level of 1.41000 yesterday.

Today the GBPUSD growth is observed, the price has increased for more than 80 pips.

forex forecast gpbusd 15-06-2016

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 overbought zone, the %K line joined the %D line, so there are no signals yet.
Data on changes in the UK average salary will be released at 11:30.

We expect that the GBPUSD price may rise to the level of 1.42800 in case of a positive news results.

The second variant is the reduction to the level of 1.41200.

Forecast for the USDJPY currency pair

Yesterday’s trading can be called moderate in the context of activity, the price ranged within 60 pips.

forex forecast usdjpy 15-06-2016

The MACD histogram is in the positive 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 above the %D line and sends a signal to buy USDJPY.

Today, we continue to expect a slight increase in the USDJPY price to the level of 106.800.

Forecast for the USDCAD currency pair

Yesterday this currency pair observed a flat with a little dominating of “bulls” on the market.

forex forecast usdcad 15-06-2016

The MACD histogram is in the positive zone, below its signal line, which can be regarded as a 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 will fall to the level of 1.27600 today.