Forecasts by Justforex

Forex Forecast for EURUSD, GBPUSD, USDJPY, USDCAD 09 February, 2017

Technical showings of the currency pair:

Pre-opening: 1.06804
Opening: 1.06981
Chg. % for the last day: +0.16
Day range: 1.06694 – 1.07020
52-week range: 1.0366 – 1.1616

The single currency has stabilized. Yesterday’s trading ended with the EUR/USD quotes growth by 0.16%. Currently, the key support and resistance levels are the 1.06550 and 1.07150, respectively. The participants of the currency market are waiting for additional drivers.

forex-forecast-eurusd-09-02-2017

Indicators do not send strong signals. The MACD histogram has consolidated near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line crossed the %D line. There are no signals yet.

News feed for 09/02/2017:
– The number of initial claims for unemployment benefits in the US (15:30 GMT + 2: 00);
– FOMC member Bullard’s speech (16:10 GMT + 2: 00).

Trading recommendations:

Support levels: 1.06550, 1.06150
Resistance levels: 1.07150

Yesterday’s forecast was quite accurate. We expect a continuation of the correction in the EUR/USD currency pair. One should consider buying to the mark of 1.07400-1.07500.

Forecast for the GBPUSD currency pair

Technical showings of the currency pair:

Pre-opening: 1.25071
Opening: 1.25389
Chg. % for the last day: +0.22
Day range: 1.24954 – 1.25719
52-week range: 1.1986 – 1.5020

During yesterday’s trading, the pound grew a little bit against the US currency. The growth of the GBP/USD quotations was 0.22%. At the moment, there is the power of buyers. Price broke key resistance level of 1.25500.

forex-forecast-gpbusd-09-02-2017

The MACD histogram is in the positive zone and continues to rise, indicating a continuation of the “bullish” moods on GBP/USD.

Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also points to purchases of GBP/USD.

At 20:30 (GMT + 2: 00) a head of Bank of England Carney’s speech will be held.

Trading recommendations:

Support levels: 1.25500, 1.24700
Resistance levels: 1.26400

The previous forecast was confirmed. We believe that the upward trend in the GBP/USD currency pair may continue. The potential for movement – 1.26200-1.26400.

Forecast for the USDCAD currency pair

Technical showings of the currency pair:

Pre-opening: 1.31832
Opening: 1.31447
Chg. % for the last day: -0.30
Day range: 1.31354 – 1.31682
52-week range: 1.2458 – 1.4692

Yesterday, the correction was observed on the USD/CAD currency pair. The Canadian dollar strengthened against the US dollar by 0.30%. At the moment, the currency is testing the key resistance level of 1.31500.

forex-forecast-usdcad-09-02-2017

The MACD histogram does not give accurate signals. The indicator is located near the 0 mark.

Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, indicating sales of USD/CAD.

At 15:30 (GMT + 2: 00) the price index for new housing in Canada will be published.

Trading recommendations:

Support levels: 1.30900
Resistance levels: 1.31500, 1.32000

We expect “bearish” moods on the USD/CAD currency pair. One should consider selling by the mark of 1.31000-1.30900.

Forecast for the USDJPY currency pair

Technical showings of the currency pair:

Pre-opening: 112.393
Opening: 111.938
Chg. % for the last day: -0.40
Day range: 111.699 – 112.424
52-week range: 99.08 – 123.69

Yesterday, there was a high trading activity on the USD/JPY currency pair. The yen rose against the US dollar by more than 40 points. At the moment, the currency is testing the resistance level of 112.300.

forex-forecast-usdjpy-09-02-2017

The MACD histogram has started to rise and moved into the positive zone, indicating purchases of USD/JPY.

Stochastic Oscillator is near the overbought zone, the %K line crossed the %D line. Currently, there are no signals.

We recommend to pay attention to the news feed from the USA.

Trading recommendations:

Support levels: 111.600
Resistance levels: 112.300, 113.100

Yesterday’s forecast proved to be quite accurate. If the price consolidates below the level of 112.000, be sure to look for entry points for opening short positions. The potential movement – to 111.600-111.500.

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