Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 30 August, 2016

Forecast for the EURUSD currency pair

Yesterday’s trading session on this currency pair passed almost within 50 pips, the minimum level of the price was 1.11579. Today we are observing the same situation with attempts to break this support level.

forex-forecast-eurusd-30-08-2016

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

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

At 17:00 (GMT +2: 00) the news on the consumer confidence index will be released in the USA.

Today we do not expect the sharp runups of the EURUSD price and assume that the price will be in the range of 1.11500-1.12100.

Forecast for the GBPUSD currency pair

As we expected, the price of GBPUSD fell yesterday to the level of 1.30650, and then again there was an increase up to the price of the market opening.

forex-forecast-gpbusd-30-08-2016

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

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 the GBPUSD price may again try to reach the resistance level of 1.31200 today.

An alternative can be the GBPUSD reduction to the level of 1.30300.

Forecast for the USDJPY currency pair

We see in the chart that yesterday’s trading session was quite calm and the price of the trading day closing was 101.913.

forex-forecast-usdjpy-30-08-2016

The MACD histogram is in the positive zone, slightly above its signal line, which can be regarded as a weak signal to buy 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 expect today a weak growth of USDJPY to the level of 102.700.

Forecast for the USDCAD currency pair

There was no specific activity on the market for this currency pair yesterday, the flat was observed.

Today, we see USDCAD attempts to grow.

forex-forecast-usdcad-30-08-2016

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

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

We still believe that the price of USDCAD may seek to the level of 1.30700.