Forecasts by Justforex

Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 28 July, 2016

The forecast for the EURUSD currency pair

The market reactes strongly to yesterday’s news about the FRS decision to leave the interest rate at the current level of 0.50% and the price of EURUSD rose by 85 pips, although tradings were within 25 pips before that.

Today the EURUSD price is still growing.

forex forecast eurusd-28-07-2016

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

Important news about change of the number of unemployed in Germany will be released today at 10:55 (GMT +2: 00).

If its result is positive, the price of EURUSD can rise to the resistance level of 1.11550.

An alternative is the EURUSD price reduction to the level of 1.10500.

Forecast for the GBPUSD currency pair

Evening news in the USA affected the price of the currency pair, which rose to 1.32340.

forex forecast gpbusd-28-07-2016

The MACD histogram is 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 a signal to buy GBPUSD.

We believe that today the resistance level for GBPUSD may be the level of 1.32600.

The second scenario is the price reduction to 1.31200.

Forecast for the USDJPY currency pair

We can see in the graph that the half of the trading session was under the “bullish” moods, while the “bears” moods prevailed during the second half.

forex forecast usdjpy-28-07-2016

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

The stochastic oscillator is in the neutral zone, but there are no signals yet, the %K lined joined the %D line.

We expect today the USDJPY price decline to the level of 104.100.

Alternatively, USDJPY can rise to 105.800.

Forecast for the USDCAD currency pair

The sharp runup of the USDCAD price to the level of 1.32526 was observed yesterday after the news on the US currency release at 21:00.

forex forecast usdcad-28-07-2016

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

Today, we expect the USDCAD price decline to the level of 1.30700.

An alternative is the USDCAD increase to 1.32100.

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