Daily Technical Analysis & Forecast – 2 April 2026

EURUSD Forecast

On the H4 chart, EURUSD completed an upward move to 1.1625 before declining to 1.1530. Today, price is expected to consolidate around this level.

• A breakout to the upside may extend the correction toward 1.1664.
• A downside breakout could push the pair lower to 1.1466.

This outlook aligns with the Elliott wave structure and wave matrix, with 1.1666 acting as a key pivot level. Currently, price is consolidating near the midpoint of the Price Envelope (1.1530).

• Downside break → 1.1466 (lower boundary)
• Upside break → 1.1664 (upper boundary)

Indicators suggest a bearish bias toward 1.1464.

USDJPY Forecast

USDJPY formed a downward move to 158.28, followed by a corrective rebound to 159.49. The pair is now consolidating around 159.10.

• Break above → potential rise to 160.70
• Break below → decline toward 157.80

The structure is supported by Elliott wave analysis with a key pivot at 159.19. After testing the Price Envelope midpoint (159.49), further downside toward 157.80 remains possible.

Indicators point to a drop toward 157.80, followed by a possible rebound to 160.70.

GBPUSD Forecast

GBPUSD advanced to 1.3344 before falling to 1.3228. A consolidation phase is expected below this level today.

• Downside breakout → 1.3112
• Upside breakout → 1.3298

The setup is supported by a bearish wave structure with a pivot at 1.3400. A move toward the lower boundary of the Price Envelope (1.3112) may occur first, followed by a potential rebound toward 1.3290.

Indicators favor a decline to 1.3112.

AUDUSD Forecast

AUDUSD broke below its consolidation range at 0.6930, signaling further weakness.

• Expected move: decline toward 0.6816

This aligns with the downward wave structure and pivot at 0.7000. After reaching 0.6816, a corrective rebound toward 0.6960 is possible.

Indicators confirm downside pressure toward 0.6816.

USDCAD Forecast

USDCAD completed a decline to 1.3868 and is now expected to move higher.

• Upside target: 1.3980
• Then decline toward: 1.3820

This scenario fits the upward wave structure with a pivot at 1.3629. Price is currently moving toward the upper boundary of the Price Envelope (1.3981), with a potential pullback afterward.

Indicators suggest a rise to 1.3980 followed by a drop to 1.3820.

XAUUSD (Gold) Forecast

Gold reached 4,795 and is now expected to correct lower.

• Initial decline: 4,555
• Then consolidation above this level

Breakout scenarios:

• Upside → 5,022, with potential extension to 5,255
• Downside → 4,355

The key pivot is 4,474. Price is consolidating near the Price Envelope midpoint (4,559).

• Downward break → ~4,350
• Upward break → ~5,022

Indicators suggest a drop to 4,555, followed by a potential bullish move.

Brent Crude Oil Forecast

Brent declined to 97.50 and is now expected to consolidate above this level.

• Upside breakout → 114.60, with possible extension to 136.40
• Downside breakout → 94.00, then recovery toward 114.60

The structure is supported by an upward wave model with a pivot at 98.00. Price is consolidating near the lower boundary of the Price Envelope (97.50).

Indicators favor a move higher toward 114.60.

Risk Disclaimer:
Past trading performance does not guarantee future results.