Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 16 June, 2016

The forecast for the EURUSD currency pair

Yesterday’s trading was under the influence of “bullish” moods and the price of EURUSD was constantly growing, the growth was contributed by the news release on the FRS decision to leave its key interest rate at the current level. The EURUSD price stopped at the level of 1.12900.

форекс прогноз eurusd 16-06-2016

The MACD histogram is in the positive zone, above its signal line, and sends a signal to buy EURUSD.

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

Today there are a lot of news from the US and the Eurozone. At 12:00 (GMT +2: 00), we expect news about the inflation level in the euro zone, a lot of the US news will be released at 15:30.

We expect today a slight reduction of the EURUSD price to the level of 1.12300.

An alternative is the EURUSD growth to the level of 1.13000 and its breakdown.

Forecast for the GBPUSD currency pair

In the graph we see that yesterday the price of GBPUSD rose to the level of 1.42000, which was the resistance level.

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

форекс прогноз gpbusd 16-06-2016

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

News on volumes of UK retail sales will be released today at 11:30, we expect their poisitive results. At 14:00 the Bank of England interest rate decision will be unveiled, at 23:00 Carney’s speech, a chairman of the Bank of England, is expected.

Positive news may contribute to the GBPUSD growth to the level of 1.42500.

A second variant is reduction of the GBPUSD price to the level of 1.41100.

Forecast for the USDJPY currency pair

Today the price of USDJPY fell for more than 240 pips. The reason for this could be a report on the monetary policy of the Bank of Japan and its decision on interest rates.

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

форекс прогноз usdjpy 16-06-2016

The stochastic oscillator is in the oversold zone, the %K line is above the %D line, and sends a signal to buy USDJPY.

We expect today the USDJPY price growth to the level of 104.800.

Forecast for the USDCAD currency pair

Price fluctuations during yesterday’s trading were within 115 points and the USDCAD price reached the level of 1.29430.

форекс прогноз usdcad 16-06-2016

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

The stochastic oscillator is in the overbought zone, the %K is above the %D line and sends a signal to buy USDCAD.

We expect that the growth of the USDCAD pair may reach the level of 1.30000.

The second scenario is the USDCAD price reduction to the level of 1.29000.