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

The forecast for the EURUSD currency pair

The price of EURUSD showed an increase of 85 pips on Friday and reached the level of 1.12200 after the negative news release in the USA, but then dropped to 1.11650.

forex-forecast-eurusd-15-08-2016

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

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

We predict that the price of EURUSD may rise today to the level of 1.12000.

An alternative is the EURUSD price reduction to 1.11350.

Forecast for the GBPUSD currency pair

The price of the GBPUSD currency pair showed a temporary sharp runup on Friday up to the level of 1.30345.

forex-forecast-gpbusd-15-08-2016

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

We suppose that the GBPUSD price today may again test the support level of 1.29050, and then renew the growth up to 1.29800.

Forecast for the USDJPY currency pair

The USDJPY price fell by more than 140 pips during Friday’s trading session. Then there were attempts to increase, but today USDJPY falls again.

forex-forecast-usdjpy-15-08-2016

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

The stochastic oscillator is in the oversold zone, the %K line joined the %D line, so there are no signals as well.

We believe that the price of USDJPY could fall to the level of 100.800.

An alternative is the USDJPY growth to 101.450.

Forecast for the USDCAD currency pair

According to the results of Friday’s trading session, the price of USDCAD dropped by 40 pips. Today, we see the decline of USDCAD.

forex-forecast-usdcad-15-08-2016

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

The stochastic oscillator is in the oversold zone, the %K is below the %D line and sends a signal to sell USDCAD.

We believe that today USDCAD may fall to 1.28800.