Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 23 June, 2016

The forecast for the EURUSD currency pair

The EURUSD growth was observed yesterday the whole day and the price reached the level of 1.13350.

forex forecast eurusd 23-06-2016

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 below the %D line and sends a signal to sell EURUSD.

The news feed is not so rich today and 2 important pieces of news are expected: at 10:30 (GMT +2: 00) regarding Germany, at 17:00 – in the USA.

We expect that today the EURUSD pair price can aim higher than level of 1.13800.

An alternative is the mark of 1.12450.

Forecast for the GBPUSD currency pair

As we expected, the major fluctuations in GBPUSD price were in range of 1.46410-1.47400 yesterday.

forex forecast gpbusd 23-06-2016

Today is a long-awaited day of the referendum concerning the Brexit from the EU.

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 above the %D line and sends an opposite signal to buy GBPUSD.

All the important news and referendum results are expected tomorrow, today the situation on the market will be “warmed up” by the interim results of exit polls.

We expect that these results will be in favor of the British pound and the GBPUSD price could rise to 1.48800.

An alternative is the support level of 1.46570.

Forecast for the USDJPY currency pair

Yesterday’s trading of this currency pair were quite moderate, price fluctuations of USDJPY were within 50 pips.

forex forecast usdjpy 23-06-2016

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

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 the USDJPY price may decline to 104.000.

The second scenario is the USDJPY growth to the level of 105.000.

Forecast for the USDCAD currency pair

Our yesterday’s forecast of the USDCAD growth was fully confirmed and the price reached the mark of 1.28500.

forex forecast usdcad 23-06-2016

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 neutral zone, the %K is below the %D line and sends the same signal to sell USDCAD.

We believe that the USDCAD price may reduce to 1.27400 today.