Daily Technical Analysis and Forecast – 12 August 2025
EURUSD Forecast
On the H4 chart, EURUSD recently formed a consolidation range around 1.1650, followed by a downward breakout. A decline towards 1.1525 is anticipated today, followed by a corrective pullback to 1.1608, and then another potential leg down to 1.1444.
This scenario aligns with the Elliott wave structure and a downward wave pattern centered around the key pivot of 1.1550. The pair has completed a correction up to the upper boundary of the price envelope at 1.1698 and is now consolidating beneath it. A brief extension to 1.1710 remains possible before a likely drop towards the envelope’s lower boundary at 1.1343.
📉 Outlook: Bearish wave towards 1.1525 remains the primary expectation.
USDJPY Forecast
USDJPY is currently consolidating around 147.77 on the H4 chart. A move higher to 148.77 is expected today, followed by a retest of 147.77 from above. This would establish a broader range. A break below this range could target 145.30, while an upward breakout may extend gains to 150.90 and even 153.00.
The upward wave scenario is supported by the Elliott wave structure, with a key pivot at 146.66. The price is near the central line of the price envelope (144.77), and a climb to the upper boundary at 148.77 remains likely.
📈 Outlook: Continued upward momentum towards 148.77 is likely.
GBPUSD Forecast
GBPUSD is forming a consolidation pattern below 1.3478. A downward breakout is expected today, potentially reaching 1.3344, followed by a pullback to 1.3410. This could set the stage for a new range. A break higher may see a move to 1.3500, while a drop could target 1.3200.
The Elliott wave analysis confirms a downward wave setup, with a key pivot at 1.3366. The corrective structure up to 1.3444 seems complete, and a decline toward the central envelope line at 1.3200 (and potentially 1.2942) remains in focus.
📉 Outlook: Downward move towards 1.3200 is anticipated.
AUDUSD Forecast
AUDUSD remains in a consolidation zone near 0.6494. A breakout to the upside towards 0.6555 is expected, followed by a drop back to 0.6490. A breakdown below this level may open the path to 0.6408.
The Elliott wave structure and a downward wave pattern support this scenario, with 0.6515 as a key pivot. The pair is correcting toward the upper envelope boundary at 0.6555, after which a decline to 0.6408 is anticipated.
📉 Outlook: Correction may extend to 0.6555 before resuming the downtrend towards 0.6408.
USDCAD Forecast
USDCAD is undergoing a corrective move towards 1.3715, having already tested 1.3790. A decline towards 1.3747 is likely today. A break below that level may see an extension to 1.3700.
This corrective pattern is supported by the Elliott wave matrix with a pivot at 1.3715. The pair recently broke below a consolidation around 1.3787. Once this correction completes, an upward move toward 1.3890 may follow.
📉 Outlook: Continued correction toward 1.3700 expected, followed by potential upward reversal.
XAUUSD (Gold) Forecast
Gold (XAUUSD) completed a decline to 3,342 and is currently stabilizing above this level. A consolidation range may develop here. An upward breakout could trigger a corrective move toward 3,420, while a breakdown may open the path to 3,295.
The Elliott wave setup supports this, with a key pivot at 3,345. The correction toward the lower envelope boundary at 3,295 is in progress. A rebound toward the upper boundary at 3,420 may follow.
📉 Outlook: Further correction towards 3,295 remains likely before a possible rebound.
Brent Crude Forecast
Brent continues to consolidate around 66.11. An upward move to 67.22 is expected today, followed by a possible dip to 65.00 before resuming the uptrend toward 68.88 and further to 72.60.
This forecast is supported by Elliott wave analysis and a growth wave matrix, with 69.50 as a key pivot. The ongoing correction toward 65.00 may complete soon, after which a continuation of the uptrend towards 76.00 is possible.
📈 Outlook: Correction may end at 65.00, followed by a bullish wave targeting 72.60.
Disclaimer
Past performance is not indicative of future results. Technical analysis is based on historical data and does not guarantee future market movements. Always conduct your own research and risk management.
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