Daily Technical Analysis & Forecast – 29 July 2025
EURUSD Forecast
On the H4 chart, EURUSD continues to develop a second bearish impulse. As of 29 July 2025, the price has reached 1.1574 and is consolidating around 1.1580. A downward breakout could signal a further decline toward 1.1393, with potential continuation to 1.1181.
From a technical perspective, the Elliott wave structure and wave matrix, with a pivot point at 1.1640, support this bearish scenario. The pair has touched the lower boundary of the price Envelope and is tightly consolidating. If the 1.1580 level is broken, a move toward 1.1488 and further to 1.1375 remains likely.
Outlook: Bearish towards 1.1375
USDJPY Forecast
USDJPY is consolidating around 148.00 on the H4 timeframe. On 29 July 2025, the pair could continue rising toward 149.17, with potential to reach 150.00.
The Elliott wave structure and growth matrix, pivoting at 148.00, support this bullish view. A pullback to this level is possible before the price resumes its move toward the upper Envelope boundary near 150.00.
Outlook: Bullish towards 150.00
GBPUSD Forecast
On the H4 chart, GBPUSD has broken below the consolidation zone around 1.3423. A continued move toward 1.3260 is anticipated today, 29 July 2025. A short-term rebound to test 1.3366 from below could occur before further decline to 1.3150.
The Elliott wave and declining wave matrix point to 1.3423 as the critical pivot. The price is now near the lower edge of the price Envelope at 1.3333 and may extend down to 1.3260.
Outlook: Bearish towards 1.3260, with potential to 1.3150
AUDUSD Forecast
AUDUSD has completed a downward wave to 0.6520. On 29 July 2025, a brief consolidation is expected. A breakdown below this level could push the pair to 0.6470, with an extended move possible to 0.6422.
The wave matrix, with a pivot at 0.6520, suggests this level as a key decision point. After a short-term rebound, further downside remains likely.
Outlook: Bearish towards 0.6422
USDCAD Forecast
USDCAD is forming a consolidation pattern near 1.3714. On 29 July 2025, a breakout to the upside could lead to a move toward 1.3800 and possibly 1.3836.
Technical analysis confirms the growth wave matrix with a pivotal level at 1.3714. The price is advancing from the central line of the Envelope and is expected to reach its upper boundary.
Outlook: Bullish towards 1.3800–1.3836
XAUUSD (Gold) Forecast
Gold (XAUUSD) completed a decline to 3,302. On 29 July 2025, a short-term recovery to 3,323 is possible, followed by a deeper move down to 3,246.
Elliott wave patterns and the bearish wave matrix identify 3,339 as a key pivot. The market is leaning toward the lower Envelope boundary at 3,246, though a rebound to the median line remains possible.
Outlook: Bearish towards 3,246
Brent Crude Forecast
Brent crude oil recently advanced to 69.55 and is consolidating below this level. On 29 July 2025, if the price breaks higher, a continuation toward 71.30 is possible, with an extension to 72.30 as a short-term target.
The technical setup, with a pivot at 68.55, supports this bullish move. A dip to 67.55 may occur before the uptrend resumes. Once the upper boundary is reached, a pullback to 69.55 is likely.
Outlook: Bullish towards 72.30
Disclaimer: Past trading performance is not indicative of future results. Always use risk management and consider your financial situation before trading.
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