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

Forecast for the EURUSD currency pair

Our yesterday’s forecast was fully confirmed and the price of EURUSD rose to the level of 1.12000.

Today we see a further increase of the currency pair.

forex-forecast-eurusd-16-08-2016

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 overbought zone, the %K line joined the %D line, so there are no signals.

Important news from Germany is expected today at 12:00 (GMT +2: 00), at 15:30 news from the US will be released.

EURUSD has all the chances to reach the level of 1.13000 today.

An alternative is the EURUSD price reduction to the level of 1.12200.

Forecast for the GBPUSD currency pair

Yesterday the price of the GBPUSD currency pair fell by 70 pips to the level of 1.28700.

Today we see a resumption of the GBPUSD growth.

forex-forecast-gpbusd-16-08-2016

The MACD histogram is in the positive 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 joined the %D line, so there are no signals.

At 11:30 important news from the UK is expected.

We believe that the GBPUSD price may rise today to the level of 1.29900.

This also does not exclude the possibility of the price falling back to 1.28700.

Forecast for the USDJPY currency pair

Fluctuations of the USDJPY price were within 50 pips yesterday and the trading session closed at a price slightly higher than the price of the market opening. Today we see a sharp and rapid price drop, which has almost reached the mark of 100.000.

forex-forecast-usdjpy-16-08-2016

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

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 a slight increase of USDJPY to the level of 100.600.

An alternative may be the price drop below the level of 100.000.

Forecast for the USDCAD currency pair

The price of USDCAD continues to fall.

forex-forecast-usdcad-16-08-2016

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 joined the %D line, so there are no signals.

Today, we expect the USDCAD price fluctuations within 1.28600-1.29300.