forex-forecast-eurusd-09-11-2016

Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 20 July, 2016

The forecast for the EURUSD currency pair

The US currency showed a significant strengthening yesterday and the price has dropped to the level of 1.10000.

Today the EURUSD pair continues to fall.

forex-forecast-eurusd-20-07-2016

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

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

Important news on crude oil reserves are expected today at 17:30 (GMT +2: 00) in the USA.

The purpose of today’s trading can be the mark of 1.09700, and in case of positive news release from the US, the price of EURUSD could reach 1.09400.

An alternative can be the growth to the resistance level of 1.10200.

Forecast for the GBPUSD currency pair

Our forecast for the GBPUSD drop was confirmed and the price reached the level of 1.30750, having fallen more than 200 pips.

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

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

Important economic news in the UK will be released at 11:30.

Positive news result may turn the price of GBPUSD back to 1.32000.

Otherwise the GBPUSD price could fall below the level of 1.30000.

Forecast for the USDJPY currency pair

The maximum of the USDJPY price was 106.530 yesterday, while in the first half of the day “bullish” moods prevailed on the market.

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

forex-forecast-usdjpy-20-07-2016

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

We assume that USDJPY rising trends may continue today, and the price will be able to pass the mark of 107.000.

An alternative is the price reduction to the level of 105.900.

Forecast for the USDCAD currency pair

Yesterday’s trading session was entirely under the influence of “bulls” and the USDCAD price rose to the level of 1.30550.

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

forex-forecast-usdcad-20-07-2016

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

The resistance level of 1.30800 still remains a target for the USDCAD growth.

The second scenario is the USDCAD price reduction to the level of 1.30000.

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