Daily Technical Analysis & Forecast – 16 July 2025
EURUSD Forecast
On the H4 timeframe, EURUSD has broken downward from its consolidation phase, breaching the 1.1650 level. This opens the path for an extension of the downtrend towards 1.1520, with a potential drop to 1.1560 expected today. After touching this support, a corrective rebound toward 1.1650 is likely.
The Elliott Wave structure supports this outlook, with 1.1675 acting as a pivotal level. The price is approaching the lower boundary of the price Envelope at 1.1560, suggesting a rebound towards the center line near 1.1675 may follow.
Outlook: Further decline towards 1.1560 expected today.
USDJPY Forecast
On the H4 chart, USDJPY has completed an upward wave reaching 149.00. Today, the market is expected to consolidate around this level. A breakout to the upside could extend gains toward 149.80, while a downward break may lead to a correction down to 147.17.
This scenario is supported by Elliott Wave analysis, identifying 145.66 as a key pivot. The pair is currently testing the upper boundary of the price Envelope. A potential pullback to the central line at 147.17 remains on the table.
Outlook: Continuation towards 149.80 remains likely, with 147.17 as support if correction begins.
GBPUSD Forecast
On the H4 timeframe, GBPUSD has completed a downward wave to 1.3378. Today, consolidation is expected around this area. A breakout upward could trigger a correction to 1.3455, while a downward breakout may extend the trend to 1.3333.
Elliott Wave analysis identifies 1.3560 as the central pivot. The pair is hovering near the Envelope’s lower boundary. A short-term bounce toward the center at 1.3560 is possible before a continued decline resumes.
Outlook: Likely move down to 1.3333, following current consolidation.
AUDUSD Forecast
AUDUSD broke below the 0.6538 level on the H4 chart, signaling room for a further drop toward 0.6488 today. After reaching this support, a corrective move back to 0.6538 could unfold.
This movement aligns with the Elliott Wave structure, where 0.6538 serves as the pivotal level. The pair is trending toward the Envelope’s lower boundary at 0.6488.
Outlook: Downtrend expected to continue toward 0.6488.
USDCAD Forecast
On the H4 chart, USDCAD continues to push higher toward the 1.3737 resistance. Once this level is reached, a reversal towards 1.3640 is anticipated. A break below 1.3640 could extend losses to 1.3494.
According to the Elliott Wave setup, 1.3646 remains a key pivot. The pair is forming a consolidation range near the Envelope’s midline. A move to the upper boundary at 1.3737 followed by a decline toward 1.3494 is a likely sequence.
Outlook: Decline to 1.3494 is possible after reaching 1.3737.
XAUUSD (Gold) Forecast
Gold has broken below 3,340, completing a downward move to 3,320. A short-term rebound to test 3,344 from below is expected today, followed by another drop to 3,312. Overall, price action is forming a wide consolidation range centered around 3,344.
The Elliott Wave structure confirms this, with 3,344 acting as the pivotal level. The metal is trending toward the Envelope’s lower boundary at 3,312, with potential for a bounce back to the center line.
Outlook: Downtrend toward 3,312 likely after a brief retest of 3,344.
Brent Crude Forecast
Brent has completed a correction down to 68.55 on the H4 chart. Today, a narrow consolidation around this area is expected. If price breaks upward, the rally could extend to 72.00. Conversely, a break lower may push prices toward 66.36. Following this, a fresh growth wave toward 73.00 could develop.
Technical analysis supports this scenario, with 70.00 serving as the central pivot. Brent is currently consolidating near the Envelope’s midline (69.50). Movement towards either extreme — 73.00 on the upside or 66.36 on the downside — remains possible.
Outlook: Growth continuation toward 72.00 remains favorable.
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