Daily Technical Analysis and Forecast — 29 October 2025
EURUSD Forecast
On the H4 chart, EURUSD has completed a corrective wave towards 1.1668. On 29 October 2025, the pair is expected to decline towards 1.1606. A breakout below this level could trigger further downward movement towards 1.1550, with an extended target at 1.1488. This represents only the first half of the third wave of the broader downtrend, whose main target lies near 1.1240.
From a technical standpoint, this scenario aligns with the Elliott Wave structure and the bearish wave matrix, with the key pivot point located at 1.1730. The pair is likely to test the lower boundary of the Price Envelope near 1.1550, followed by a possible short-term pullback towards its central line around 1.1606.
Technical outlook: The pair is expected to move lower towards 1.1606 and 1.1488.
Risk Warning: Past trading performance does not guarantee future results.
USDJPY Forecast
On the H4 chart, USDJPY has completed a corrective movement up to 151.54. On 29 October 2025, the pair is expected to extend its rise towards 152.77. After a brief consolidation, further upward movement towards 154.00 and potentially 154.33 is anticipated as the local target.
This scenario is supported by the Elliott Wave structure and a bullish wave matrix with a pivot at 149.80, serving as the key level for this formation. The pair is currently consolidating near the central line of the Price Envelope at 151.70, and continuation towards its upper boundary around 154.33 is likely.
Technical outlook: Further growth towards 154.00–154.33 is expected.
Risk Warning: Past trading performance does not guarantee future results.
GBPUSD Forecast
On the H4 chart, GBPUSD consolidated around 1.3333 before breaking downward. On 29 October 2025, the third wave of the ongoing downtrend is expected to continue, targeting 1.3222 with potential extension to 1.3194. This move represents only part of the broader third wave, whose main target is projected near 1.2962.
The Elliott Wave structure and bearish wave matrix confirm this outlook, with the pivot point located at 1.3490. The market continues to consolidate near the Price Envelope’s central line at 1.3333, suggesting a move towards its lower boundary around 1.3213.
Technical outlook: The pair is likely to decline towards 1.3194.
Risk Warning: Past trading performance does not guarantee future results.
AUDUSD Forecast
On the H4 chart, AUDUSD has expanded its consolidation range up to 0.6606. On 29 October 2025, a decline towards 0.6500 is anticipated. A breakout below this level may lead to continued downward movement towards 0.6432, with a possible extension to 0.6350.
This outlook is supported by the Elliott Wave structure and a bearish wave matrix with a pivot at 0.6525, serving as the key level for this formation. After completing a correction to the upper boundary of the Price Envelope at 0.6606, the pair is expected to move towards its lower boundary near 0.6432.
Technical outlook: The beginning of a downward wave targeting 0.6432 is expected.
Risk Warning: Past trading performance does not guarantee future results.
USDCAD Forecast
On the H4 chart, USDCAD completed a correction to 1.3933. On 29 October 2025, the pair is expected to start a new upward wave towards 1.4040. A breakout above this level would open the path for continuation towards 1.4160, the next local target.
Technically, this scenario aligns with the Elliott Wave structure and the bullish wave matrix, with the pivot point at 1.3940. Having completed its correction near the lower boundary of the Price Envelope, the pair is now poised to rise towards 1.4040. A breakout above this level would confirm further growth towards 1.4160, followed by a possible retest of 1.3940 from above.
Technical outlook: The uptrend is expected to continue towards 1.4040 and 1.4160.
Risk Warning: Past trading performance does not guarantee future results.
XAUUSD Forecast (Gold)
On the H4 chart, XAUUSD (Gold) completed a correction around 3,890. On 29 October 2025, a rise towards 4,010 is expected, followed by a pullback to 3,860, and then another upswing to 4,010, forming a new consolidation range.
A downward breakout could extend the correction towards 3,785 and 3,666, while an upward breakout may confirm a continuation of the uptrend towards 4,400.
This scenario is supported by the Elliott Wave structure and the bullish wave matrix, with a key pivot at 3,660. The market is now forming a corrective move towards the lower boundary of the Price Envelope at 3,860, after which another rise towards 4,010 is expected.
Technical outlook: A corrective move towards 3,860 is anticipated.
Risk Warning: Past trading performance does not guarantee future results.
Brent Forecast
On the H4 chart, Brent crude oil is completing a corrective move towards 63.00. On 29 October 2025, this correction is expected to end, paving the way for a rise towards 66.00. A breakout above that level could extend growth towards 69.15, 70.77, and possibly 72.22.
This scenario aligns with the Elliott Wave structure and the bullish wave matrix, with a pivot point at 66.00, considered crucial for this formation. The market has reached the upper boundary of the Price Envelope near 65.99 and is currently correcting towards its central line at 63.00. Once this correction is complete, an upward move towards 69.15 is expected.
Technical outlook: The correction phase is nearing completion, and a rise towards 66.00–69.15 is anticipated.
Risk Warning: Past trading performance does not guarantee future results.
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