The forecast for the EURUSD currency pair
As we expected, the price of EURUSD rose to the level of 1.11650 yesterday, but then it turned back to the level of 1.11200.
The MACD histogram is in the positive zone, slightly above its signal line, and sends a weak signal to buy 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 12:00 (GMT +2: 00) news on the inflation index in the euro zone will be released and at 15:30 a lot of news in the USA is expected.
We expect that the news on the US currency will be positive, as a result the price of EURUSD may reduce to the level of 1.10850.
An alternative can be the pair growth to the level of 1.11750.
Forecast for the GBPUSD currency pair
Yesterday the currency pair of GBPUSD showed an increase of more than 350 pips, the main cause of which was the decision of the Bank of England to maintain the base interest rate at the current level of 0.5%. At the same time a small gap was even formed in the graph during the news release.
Maximum of the GBPUSD price was 1.34805.
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.
Today at 15:00 a speech of the head of the Bank of England Governor Mark Carney is expected.
We believe that the price of GBPUSD will try to repeat yesterday’s growth today and reach the level of 1.34800.
An alternative can be drop of the GBPUSD price to the level of 1.33250 as a kind of defusing of yesterday’s market response to the news on the interest rate.
Forecast for the USDJPY currency pair
We can see in the graph, that our prediction was confirmed and the price of USDJPY rose to the level of 105.900 yesterday and above 106.000 today.
The MACD histogram is in the positive zone, joined its signal line, so there no signals yet.
The stochastic oscillator is in the overbought zone, but indicator doesn’t signals as well, as the K% and the D% lines joined together.
Taking into account the large number of important news on the US currency, we believe that their positive outcome can contribute to the USDJPY growth to the level of 106.500.
An alternative is the USDJPY price reduction to the level of 105.000.
Forecast for the USDCAD currency pair
Summarizing yesterday’s results, we see thet “bearish” moods prevailed on the market and the price of USDCAD dropped to the level of 1.28650.
The MACD histogram is in the negative zone, 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 below the %D line and sends a signal to sell USDCAD.
Today we expect the USDCAD growth to the level of 1.29600.