Daily technical analysis and forecast for 18 July 2025
EURUSD Forecast – 18 July 2025
On the H4 chart, EURUSD completed a downward move to 1.1560, followed by a corrective rise to 1.1633. Today, the pair is expected to continue declining towards 1.1520 as the first target. After reaching this level, a rebound towards 1.1675 may develop.
This outlook is supported by the Elliott wave structure and a downward wave matrix with a key pivot at 1.1675. The price remains within a decline phase towards the lower boundary of the price Envelope at 1.1520, followed by a potential recovery to the central line at 1.1675.
Technical indicators signal a continuation of the downward movement to 1.1520.
USDJPY Forecast – 18 July 2025
On the H4 chart, USDJPY is consolidating around 148.52. A breakout to the upside may trigger a growth wave towards 150.00. After reaching that level, a correction towards 147.12 could follow.
This scenario aligns with the Elliott wave pattern and a bullish wave matrix centred at 147.12. The market is pushing towards the upper edge of the price Envelope at 150.00, with a subsequent pullback towards the centreline at 147.12 possible.
Technical indicators point to continued growth towards 150.00.
GBPUSD Forecast – 18 July 2025
GBPUSD completed a downward wave to 1.3373 and corrected to 1.3439. Today, the pair is expected to fall to 1.3344. A break below this level could extend the drop to 1.3295, followed by a potential correction to 1.3455.
This view is supported by the Elliott wave structure and a bearish wave matrix with a pivot at 1.3455. The price is moving towards the lower boundary of the price Envelope at 1.3344, with a possible extension to 1.3295.
Technical indicators suggest continued downside towards 1.3295.
AUDUSD Forecast – 18 July 2025
AUDUSD has completed a downward wave to 0.6454 and retraced to 0.6500. A further decline to 0.6433 is anticipated as the next target.
This scenario is backed by the Elliott wave structure and a growth wave matrix with a rotation centre at 0.6500. The pair is expected to revisit the lower boundary of the price Envelope at 0.6433.
Technical indicators support a continued downward move towards 0.6433.
USDCAD Forecast – 18 July 2025
USDCAD is progressing within an upward wave towards 1.3800. Upon reaching this level, a correction to 1.3685 may follow.
This aligns with the Elliott wave structure and a bullish wave matrix centred at 1.3685. The market is advancing toward the upper boundary of the price Envelope at 1.3800, with 1.3685 serving as the central pivot for any corrective pullback.
Technical indicators point to a move higher towards 1.3800.
XAUUSD (Gold) Forecast – 18 July 2025
Gold completed a decline to 3,312 and corrected to 3,344. The market is currently consolidating around 3,344. A breakout to the upside may lead to 3,384, while a downside break could extend losses to 3,235.
This forecast is supported by the Elliott wave pattern and a growth wave matrix with a rotation centre at 3,344. The current price action suggests a range-bound market, with potential movement toward either boundary of the price Envelope.
Technical indicators lean towards a continued decline towards 3,235.
Brent Crude Oil Forecast – 18 July 2025
Brent is consolidating around 69.30. A breakout to the upside could push prices to 71.40, while a downward breakout may extend losses to 66.90.
This scenario fits within the Elliott wave framework and a growth wave matrix with a rotation centre at 69.30. The market remains in a range near the price Envelope’s midpoint, with potential for a move towards its upper boundary.
Technical indicators favour a continuation of the upward movement to 71.40.
Risk Disclaimer: Past performance is not indicative of future results. Trading carries risk and should be approached with proper risk management.
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