Daily Technical Analysis and Forecast – 6 October 2025
EURUSD Forecast
On the H4 chart, EURUSD continues its downward trajectory, aiming for the 1.1652 level. If the price breaks below 1.1650, the drop may extend toward 1.1625, with the broader target near 1.1460. Conversely, a rise above 1.1750 could trigger a corrective move toward 1.1790, followed by another decline to 1.1460.
This outlook aligns with the Elliott Wave pattern, with a key pivot point at 1.1786. The price is consolidating near the central line of the Price Envelope at 1.1720, leaving room for a correction toward the upper boundary at 1.1790 before resuming its descent.
Outlook: Bearish towards 1.1625
USDJPY Forecast
USDJPY has broken above 149.00, with the bullish wave expected to target 151.63 today. After reaching this level, a consolidation zone may form. If the pair breaks higher, the next upside target lies at 153.33.
This forecast is supported by the Elliott Wave structure, with a pivotal level at 147.75. The pair recently tested the lower edge of the Price Envelope at 146.58, and now the market focuses on the upper boundary near 151.63, potentially continuing to 153.33.
Outlook: Bullish towards 151.63, possibly 153.33
GBPUSD Forecast
GBPUSD is forming a downward leg with a short-term target of 1.3382. A bounce back to 1.3454 may occur, followed by a further drop to 1.3322. Should this support fail, the decline could extend to 1.3130.
This view is confirmed by the Elliott Wave model, with 1.3550 as the key pivot. The market is consolidating around the Price Envelope’s midpoint at 1.3454, with the lower boundary support at 1.3322 in focus.
Outlook: Bearish continuation towards 1.3322
AUDUSD Forecast
AUDUSD is consolidating around 0.6613. The range may widen down to 0.6570, followed by a rebound towards 0.6600. A breakout lower opens the path to 0.6493, while an upward breakout might lead to a brief rally to 0.6633 before resuming the downtrend.
Elliott Wave structure supports this view, with 0.6633 as the critical pivot. After testing the lower Price Envelope boundary near 0.6520, a brief correction may follow before the decline resumes.
Outlook: Bearish towards 0.6493
USDCAD Forecast
USDCAD is stabilizing near 1.3930. A retest of this level could be followed by growth towards 1.4068 and possibly 1.4100. A correction back to 1.3933 may occur afterward.
This movement is in line with the Elliott Wave setup, where 1.3930 acts as the key pivot. A bullish wave toward the Price Envelope’s upper boundary at 1.4068 is forming, with a possible retracement before further gains.
Outlook: Pullback likely to 1.3930, then bullish towards 1.4068
XAUUSD Forecast (Gold)
Gold (XAUUSD) completed an upward wave at 3,910 and continues rising toward 4,000. A correction back to 3,850 could follow once this target is hit.
The bullish structure is confirmed by Elliott Waves, with a key pivot at 3,660. The market is heading towards the upper boundary of the Price Envelope near 4,000, with a potential correction to the centerline at 3,850 expected afterward.
Outlook: Bullish continuation to 4,000, then corrective pullback to 3,850
Brent Crude Forecast
Brent crude is undergoing a corrective rise towards 65.75, which is expected to conclude today. This will likely be followed by a new downward wave targeting 61.64, potentially extending to 60.00.
Elliott Wave analysis places the pivot at 66.73, with consolidation around 65.00 suggesting a corrective phase. A break below this range would open room for further decline.
Outlook: Bearish toward 61.64 and 60.00 after correction completes
Risk Disclaimer:
Past performance is not indicative of future results. Technical analysis does not guarantee outcomes. Always consider your risk tolerance and conduct your own analysis before trading.
Leave a Reply