Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 29 June, 2016

The forecast for the EURUSD currency pair

The first half of the yesterday’s tradings passed under the influence of “bullish” moods, as a result the price of EURUSD reached the level of 1.11100. In the second half the EURUSD price decline was observed again.

forex forecast eurusd-29-06-2016

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

The stochastics oscillator is in the neutral zone, the %K line joined the %D line and signals are absent here as well.

Today at 17:00 and 17:30 (GMT +2: 00) the important news will be released in the USA. Before that at 14:00 a summit of EU leaders will take place.

We believe that the price of EURUSD may continue to grow to the level of 1.11500 today.

In case of positive news release from the USA the price of EURUSD could reach 1.10000.

Forecast for the GBPUSD currency pair

We see in the hourly graph that this pair observed sideways trend yesterday, while at the same time the price rose more than 100 pips at the end of the day.

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

forex forecast gpbusd-29-06-2016

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

We suppose that the GBPUSD price still may reach 1.34700.

An alternative is reduction to the level of 1.32600.

Forecast for the USDJPY currency pair

As we predicted, the USDJPY price showed growth yesterday, though it reached the mark of 102.800.

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 29-06-2016

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

We believe that the price of USDJPY may try again to reach the level of 103.000 today.

Otherwise, an alternative of the USDJPY price reduction to 101.600 is possible.

Forecast for the USDCAD currency pair

Yestedray, the fluctuations of the USDCAD price were within 140 pips and tha maximum level was 1.31075.

forex forecast usdcad-29-06-2016

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

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

We expect today the USDCAD price growth to the level of 1.30800.

The price of USDCAD may again test the support level of 1.29700.