Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 18 August, 2016

Forecast for the EURUSD currency pair

Yesterday’s trading session was quiet for this currency pair, only FOMC news at 21:00 jogged the market a little.

forex-forecast-eurusd-18-08-2016

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 neutral zone, the %K line is above the %D line and sends the same signal to buy EURUSD.

Eurozone news on the level of inflation is expected today at, 12:00 (GMT +2: 00), at 15:30 the news from the USA will be released.

Indicators show that the price of EURUSD may continue to grow, and its purpose may be the mark of 1.13500.

An alternative is the EURUSD price reduction to the level of 1.12600.

Forecast for the GBPUSD currency pair

Yesterday’s trading session for the currency pair of GBPUSD was distinguished by sharp price runups within 75 pips in the first half of the day. Today we are observing the growth of GBPUSD.

forex-forecast-gpbusd-18-08-2016

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

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

At 11:30 news in the UK is expected.

If the news is positive, the price of GBPUSD may rise to the level of 1.31100.

An alternative is the GBPUSD price reduction to 1.30000.

Forecast for the USDJPY currency pair

The USDJPY price showed yesterday the rapid growth to the level of 101.160 at the first half of the day, but then the USDJPY price was declining the remaining half of the day. Today the price of USDJPY dropped to the mark of 99.700.

forex-forecast-usdjpy-18-08-2016

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

The stochastic oscillator is in the neutral zone, the %K line joined the %D line, so there are no signals yet.

We expect USDJPY to rise to the level of 100.700.

Forecast for the USDCAD currency pair

We can see in the chart that the price of USDCAD showed growth to 1.29200 yesterday, and then decreased to the level of 1.28400. Today, the price continues to decline.

forex-forecast-usdcad-18-08-2016

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, but there are no signals yet.

We believe that the USDCAD price can break through the support level of 1.28000 and drop to 1.27600.

An alternative is an increase to 1.28700.