Daily Technical Analysis & Forecast – 11 July 2025

EURUSD Analysis

On the H4 chart, EURUSD recently completed a correction down to 1.1700. For 11 July 2025, the pair is likely to enter a narrow consolidation phase around 1.1740. A break below this range could initiate a downward move toward the key support level at 1.1640. Once this target is reached, a retracement back to 1.1737 may follow.

This outlook is supported by the Elliott wave structure and a downward wave matrix centered at 1.1735. The pair has returned to the Price Envelope’s midpoint and is now expected to head toward its lower edge at 1.1640.

Technical outlook: Bearish continuation expected toward 1.1640.

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USDJPY Analysis

USDJPY is forming a sideways consolidation pattern around the 146.30 level on the H4 chart. For today, an upward move towards 147.47 is possible before the price potentially reverses back down to 145.06.

The Elliott wave structure and a downward wave matrix with a central pivot at 144.84 confirm this scenario. The price recently touched the Price Envelope’s upper band at 147.15, suggesting a possible decline to the midpoint at 145.06, followed by another upward movement.

Technical outlook: Likely short-term rise toward 147.47, followed by potential correction.

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GBPUSD Analysis

GBPUSD broke below its consolidation zone near 1.3590 on the H4 timeframe. The pair is expected to continue its descent toward 1.3520, with a further drop to 1.3465 as a potential local target.

This bearish forecast is supported by the Elliott wave formation and a downward wave matrix with a rotation center at 1.3656. The price is currently under pressure, targeting the lower boundary of the Price Envelope at 1.3520. A brief correction toward 1.3590 may occur before resuming the downward trend.

Technical outlook: Bearish trend expected toward 1.3465.

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AUDUSD Analysis

AUDUSD has broken out to the upside from a consolidation range around 0.6550. The current upward momentum could carry the price toward the resistance level at 0.6598. After reaching this level, a correction back toward 0.6550 is likely.

This bullish scenario is supported by the Elliott wave pattern and a growth wave matrix centered at 0.6444. The pair is currently advancing toward the Price Envelope’s upper boundary.

Technical outlook: Bullish, with a target at 0.6598 before possible pullback.

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USDCAD Analysis

USDCAD completed a bullish wave, peaking at 1.3724. Today, a downward movement is expected to start, with the first target around 1.3640. A minor rebound to 1.3685 may follow, before the pair resumes its decline toward 1.3490.

The forecast is consistent with the Elliott wave pattern and a bearish matrix centered at 1.3626. The price is currently consolidating near this level, with further downside toward the lower envelope boundary being the primary expectation.

Technical outlook: Bearish, with a projected move toward 1.3490.

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XAUUSD (Gold) Analysis

Gold remains in a consolidation phase around the $3300 level. A possible expansion toward $3344 is expected, followed by a reversal to $3300. If the price breaks below this range, the downward movement may extend toward $3233.

This view is confirmed by the Elliott wave structure and a downward wave matrix centered at $3344. Price action suggests a move toward the Price Envelope’s lower band is in progress.

Technical outlook: Consolidation with potential bearish breakout toward $3233.

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Brent Crude Oil Analysis

Brent crude recently concluded a corrective phase at $68.00. A new bullish wave is likely today, with the price targeting $71.32 initially. A short correction back to $69.50 could follow, then a continuation of the uptrend toward $73.00.

This scenario aligns with the Elliott wave setup and a bullish wave matrix centered at $69.50. Brent is currently consolidating near the mid-point of the Price Envelope, indicating room for further upside.

Technical outlook: Bullish trend continuation toward $73.00.