Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 19 August, 2016

Forecast for the EURUSD currency pair

As we expected the price of EURUSD showed growth yesterday and reached the level of 1.13650.

forex-forecast-eurusd-19-08-2016

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

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

We believe that the price of EURUSD may start to fall today and reach the level of 1.12800.

An alternative would be a slight increase to 1.13700.

Forecast for the GBPUSD currency pair

The price of the GBPUSD currency pair rose yesterday by more than 135 pips and reached the resistance level of 1.13720.

forex-forecast-gpbusd-19-08-2016

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.

We expect that the price of GBPUSD will drop to the level of 1.30500 today.

An alternative would be the GBPUSD growth to 1.31700.

Forecast for the USDJPY currency pair

The growth of the USDJPY currency pair stopped at the level of 100.500 yesterday, then USDJPY went down.

forex-forecast-usdjpy-19-08-2016

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

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

It is expected that the price of USDJPY today may again test the support level of 99.850.

Forecast for the USDCAD currency pair

Our yesterday’s forecast for the USDCAD price fall was fully confirmed and the price reached the level of 1.27650.

forex-forecast-usdcad-19-08-2016

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 above the %D line and sends a signal to buy USDCAD.

At 15:30 important news in Canada is expected.

We believe that the USDCAD price may fall to the level of 1.27500 in the case of the positive news release.

An alternative would be an increase to the level of 1.29000.