Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 21 June, 2016

The forecast for the EURUSD currency pair

This currency pair tradings started with a gap of more than 50 pips and the EURUSD price growth to the level of 1.13820, but then during the day the price fell to the level of 1.13000.

forex forecast eurusd 21-06-2016

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 slightly above the %D line and sends a weak signal to buy EURUSD.

Today at 12:00 (GMT +2: 00) the ZEW index of economic moods in Germany will be released. At 16:00 ECB President Mario Draghi’s speech is expected, soon at 17:00 FRS Chairman Yellen’s speech is expected.

Today, we expect the EURUSD growth to the level of 1.13800.

The alternative is the EURUSD price reduction to 1.12600.

Forecast for the GBPUSD currency pair

A large gap for the GBPUSD pair was observed yesterday, more than 120 pips. The “bullish” moods dominated on the market the whole day and the price of GBPUSD rose for more than 260 pips.

forex forecast gbpusd 21-06-2016

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

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

The GBPUSD price got access to the strong resistance level of 1.47400, the breakdown of which opens the door to the mark of 1.49000.

The support level can be the mark of 1.46300.

Forecast for the USDJPY currency pair

The new trading week started with a gap for this currency pair, but during the day it was closed, and the price of USDJPY fell from 104.700 to 103.900.

forex forecast usdjpy 21-06-2016

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 overbought zone, the %K line is below the %D line, and sends a signal to sell USDJPY.

We expect that today the price of USDJPY may fall to the level of 103.700.

Forecast for the USDCAD currency pair

Today, the third day in a row, the price of USDCAD is slowly falling.

forex forecast usdcad 21-06-2016

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

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

We expect that today USDCAD can reach the support level of 1.27500, after which the price will renew its growth.