Daily technical analysis and forecast for 17 July 2025

EURUSD Forecast – 17 July 2025

On the H4 chart, EURUSD completed a downward movement to 1.1562, followed by a corrective rise to 1.1720. Today, a further decline towards 1.1520 is expected as the next target. Upon reaching this level, a potential rebound towards 1.1675 could begin.

This outlook is supported by the Elliott wave structure and a bearish wave matrix, with a pivotal level at 1.1675. Price is currently heading towards the lower boundary of the price Envelope, suggesting a short-term bearish trend before a possible recovery to the median line at 1.1675.

Outlook: Bearish toward 1.1520, followed by potential recovery
Key level: 1.1675

---

USDJPY Forecast – 17 July 2025

USDJPY has completed an upward wave to 149.17 and corrected to 147.12. Today, the pair is likely to extend its gains towards 150.00. After reaching this resistance, a pullback to 147.17 is possible.

This forecast aligns with the Elliott wave pattern and a bullish wave matrix pivoted at 147.17. The market currently aims for the upper edge of the price Envelope at 150.00, with potential for a correction to its central line.

Outlook: Bullish toward 150.00, followed by a corrective pullback
Key level: 147.17

---

GBPUSD Forecast – 17 July 2025

GBPUSD recently declined to 1.3365 and then corrected to 1.3484. Today, a further drop toward 1.3295 is projected. Once this level is reached, a recovery toward 1.3484 may follow.

This scenario is consistent with the Elliott wave structure and a bearish wave matrix pivoted at 1.3484. The price has touched the lower boundary of the Envelope and may now target deeper lows before a potential upward correction.

Outlook: Bearish toward 1.3295, followed by potential recovery
Key level: 1.3484

---

AUDUSD Forecast – 17 July 2025

AUDUSD broke below a consolidation zone near 0.6525, signaling a move toward 0.6454. This decline is expected to complete today, potentially followed by a corrective bounce back to 0.6525.

The Elliott wave formation and wave matrix highlight 0.6525 as a key pivot level. The current movement suggests a continuation to the Envelope’s lower boundary before a reversal attempt toward the median line.

Outlook: Bearish toward 0.6454, with potential rebound
Key level: 0.6525

---

USDCAD Forecast – 17 July 2025

USDCAD extended its rise to 1.3754 and corrected to 1.3685. Today, a new upward wave toward 1.3812 is anticipated, with a possible extension to 1.3944 in the longer term.

This view is supported by the Elliott wave structure and an upward wave matrix, with 1.3685 as a crucial pivot. The pair is currently consolidating near the central Envelope line, and a move toward the upper boundary is likely.

Outlook: Bullish toward 1.3812, possibly extending to 1.3944
Key level: 1.3685

---

XAUUSD (Gold) Forecast – 17 July 2025

XAUUSD remains in a broad consolidation phase around 3,344, oscillating between 3,320 and 3,377. Today, a decline toward 3,313 is likely, followed by a possible rise back toward 3,384.

The Elliott wave structure and growth wave matrix identify 3,344 as the key pivot. Gold is expected to test the Envelope’s lower boundary before rebounding toward the central line.

Outlook: Consolidation, with dip to 3,313 and potential rise to 3,384
Key level: 3,344

---

Brent Crude Forecast – 17 July 2025

Brent crude continues to consolidate around 69.30. A short-term rise toward 71.40 is possible today, followed by a correction back to 69.30. A breakout above may lead to 72.82, while a downside breakout could target 66.90.

The Elliott wave pattern and growth matrix highlight 69.30 as a pivotal level. Price is moving within a range, with a bullish bias toward the upper Envelope boundary.

Outlook: Consolidation with upside potential to 71.40
Key level: 69.30

---

Risk Warning: Past performance is not indicative of future results. Always consider your own risk tolerance before trading.