Forecasts by Justforex

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

The forecast for the EURUSD currency pair

Fluctuations of the EURUSD price were in the range of 50 pips yesterday, and the price of the market opening/closing didn’t differ a lot.

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

forex-forecast-eurusd-21-07-2016

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

Today we expect a lot of important economic news from the USA and the Eurozone. At 14:45 (GMT +2: 00) the ECB data on the new interest rate and the deposit funds rate will be released. At 15:30 ECB President Mario Draghi’s speech is expected. At 15:30 and 17:00 news from the United States will be released as well.

We expect that today the price of EURUSD can rise to the level of 1.10800 in the case of positive news for the euro.

An alternative can be the EURUSD price reduction to the level of 1.097700.

Forecast for the GBPUSD currency pair

Yesterday the currency pair of GBPUSD showed an increase and reached the level of 1.32000, and our forecast was confirmed.

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

forex-forecast-gpbusd-21-07-2016

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

At 11:30 the data retail sales volume in the UK will be released.

The GBPUSD price may continue to grow and reach the level of 1.33000 today.

The negative result of the news may contribute to the reduction of GBPUSD to the level of 1.31400.

Forecast for the USDJPY currency pair

As expected the price of USD JPY continued to rise during the day before and reached the level of 107.000.

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

forex-forecast-usdjpy-21-07-2016

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

Further today’s price movement will depend on the news results. Positive US news will contribute to the USDJPY price growth to 108.800.

Otherwise the price of USDJPY can fall to the level of 106,000.

Forecast for the USDCAD currency pair

We can see in the chart, that yesterday the price of USDCAD tried to break the level of 1.30960, but it didn’t manage to do that.

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

forex-forecast-usdcad-21-07-2016

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

We believe that the positive news for the US currency can help USDCAD reach the level of 1.31000.

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