Daily Technical Analysis and Forecast – 21 August 2025
EURUSD Forecast – 21 August 2025
On the H4 chart, EURUSD is consolidating near 1.1656. Today, a downward move is expected towards 1.1597, potentially extending to 1.1587. A short-term pullback to retest 1.1656 from below may follow, with another possible decline to 1.1582 as the primary target.
The Elliott Wave structure and the bearish wave matrix centered around 1.1590 support this outlook. The pair is currently heading toward the lower edge of the Price Envelope at 1.1582, after which a correction back to 1.1656 is likely.
Outlook: Continued decline toward 1.1582.
USDJPY Forecast – 21 August 2025
On the H4 chart, USDJPY remains within a tight consolidation range around 147.48. A decline toward 146.11 is possible today, potentially extending further to 144.33. A rebound toward 147.48 may follow after reaching these levels.
The Elliott Wave structure and bearish wave matrix with a pivot at 147.48 reinforce this scenario. A downward breakout could drive the pair to the lower boundary of the Price Envelope at 146.00, and possibly further to 144.33.
Outlook: Bearish movement toward 146.00.
GBPUSD Forecast – 21 August 2025
GBPUSD is forming a narrow range around 1.3477 on the H4 chart. A breakout to the downside may lead to a drop toward 1.3355, with potential continuation to 1.3140.
The Elliott Wave structure and wave matrix pivoted at 1.3355 support this scenario. The pair has recently completed a corrective wave up to the upper Price Envelope at 1.3590 and is now poised for a downward move.
Outlook: Downward continuation toward 1.3355.
AUDUSD Forecast – 21 August 2025
On the H4 chart, AUDUSD is in a downward wave heading toward 0.6407. A corrective bounce to 0.6480 is possible today, but the main trend remains bearish toward 0.6407.
The Elliott Wave pattern and the bearish matrix with a pivot at 0.6515 support this view. The fifth downward wave is in progress, targeting the lower edge of the Price Envelope.
Outlook: Further decline toward 0.6407.
USDCAD Forecast – 21 August 2025
USDCAD completed an upward move to 1.3880, reaching a local high. A consolidation phase is likely today around this level. A downside correction toward 1.3800 could follow, with a possible rebound and continuation of the uptrend to 1.3896.
The Elliott Wave structure and the bullish wave matrix with a pivot at 1.3715 support this scenario. The price is now near the upper boundary of the Price Envelope.
Outlook: Short-term correction to 1.3800, followed by potential upward movement.
XAUUSD (Gold) Forecast – 21 August 2025
Gold continues consolidating near 3,340 on the H4 chart. A drop to 3,307 is expected, followed by a corrective move back to 3,340 and a potential continuation down to 3,272.
The Elliott Wave structure and bearish wave matrix centered at 3,340 support this scenario. The market is currently aiming for the lower boundary of the Price Envelope at 3,307.
Outlook: Bearish bias toward 3,307.
Brent Crude Forecast – 21 August 2025
Brent crude remains in consolidation around 66.00 on the H4 chart. An upward push to 67.17 may occur, followed by a pullback to retest 66.00 and then a rise toward 68.88.
The Elliott Wave structure and bullish matrix with a pivot at 68.88 suggest further gains. After hitting the lower Price Envelope boundary at 64.81, the next likely move is toward the upper edge at 68.88, with a longer-term outlook toward 72.60.
Outlook: Gradual rise toward 68.88.
Risk Disclaimer: Past performance is not indicative of future results. Always consider your risk tolerance and trading strategy before making any decisions.
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