forex-forecast-eurusd-09-11-2016

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

The forecast for the EURUSD currency pair

The maximum of the EURUSD price was 1.11196 yesterday, after which it declined to the level of 1.10800.

forex-forecast-eurusd-29-07-2016

The MACD histogram is in the positive zone, below its signal line, and sends a weak signal to sell EURUSD.

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

News from the euro zone about the inflation level is expected at 12:00 (GMT +2: 00), and at 15:30 the data on USA GDP for the 2nd quarter will be released.

We assume that the price of EURUSD may continue to grow to the level of 1.11200.

An alternative is the mark of 1.10500.

Forecast for the GBPUSD currency pair

During yesterday’s trading session the price of GBPUSD fell by more than 130 pips and reached the level of 1.31200, as we predicted.

forex-forecast-gpbusd-29-07-2016

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

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

Today we assume that the GBPUSD price movement will be in range of 1.31500-1.32400.

Forecast for the USDJPY currency pair

Today morning news from Japan made a lot of noise on the market and as a result the price of USDJPY fell by more than 250 pips.

forex-forecast-usdjpy-29-07-2016

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, the %K line is above the %D line, and sends a signal to buy USDJPY.

We believe that the price of USDJPY can grow to the level of 104.700 today.

Forecast for the USDCAD currency pair

The USDCAD price was near the support level of 1.31260 for a long time yesterday, but it came up again.

forex-forecast-usdcad-29-07-2016

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

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

If the USDCAD price could pass the level 1.31900, it may reach 1.32450.

An alternative is the USDCAD price reduction to the level of 1.31350.

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