Daily Technical Analysis and Forecast – 4 August 2025
EURUSD Forecast – 4 August 2025
On the H4 timeframe, EURUSD remains in a narrow consolidation phase near 1.1550. For today, the range could potentially expand, targeting 1.1670 on the upside and 1.1347 on the downside before a return to the 1.1550 zone.
The Elliott Wave pattern and the broader bearish wave structure, pivoting around 1.1550, support this outlook. A corrective wave toward the price envelope’s upper limit near 1.1670 is currently developing, which may be followed by a decline toward the lower boundary at 1.1347.
Summary: Expect a possible corrective rise to 1.1670, followed by a downward wave toward 1.1347.
USDJPY Forecast – 4 August 2025
On the H4 chart, USDJPY continues its corrective decline toward 146.52. Once this level is reached, a new upward wave may begin, targeting 149.80 and potentially extending to 153.14.
The Elliott Wave model and bullish wave matrix highlight 148.52 as a critical pivot point. After touching the price envelope’s lower boundary at 146.52, the pair is expected to rebound toward the upper boundary near 153.14.
Summary: A correction toward 146.52 may complete today, after which a bullish move toward 153.14 could develop.
GBPUSD Forecast – 4 August 2025
GBPUSD has completed a downward wave to 1.3141. A short-term correction to retest 1.3366 from below is possible today, followed by a potential decline toward 1.2942.
The downward Elliott wave structure uses 1.3366 as the pivot. After hitting the lower envelope boundary at 1.3141, a retracement toward the center line is anticipated.
Summary: A corrective rise toward 1.3366 may occur today, followed by a renewed decline toward 1.2942.
AUDUSD Forecast – 4 August 2025
AUDUSD is consolidating around 0.6464. A breakout may trigger a move either up to 0.6515 or down toward 0.6408.
Based on the Elliott Wave setup, 0.6515 serves as a pivotal level. After reaching the lower boundary at 0.6417, the pair may correct toward 0.6515 before resuming its decline toward 0.6408.
Summary: A correction to 0.6515 is possible before resuming the downward trend toward 0.6408.
USDCAD Forecast – 4 August 2025
USDCAD has broken below its consolidation near 1.3794. Today, a move toward 1.3715 is expected, followed by a potential rebound to 1.3890.
The Elliott wave pattern and bullish structure use 1.3715 as the key pivot level. The current move toward the envelope’s lower boundary may set up for a bounce.
Summary: Expect a decline to 1.3715, potentially followed by a rally to 1.3890.
XAUUSD (Gold) Forecast – 4 August 2025
Gold continues to consolidate around 3,345. A move up to 3,382 is possible today, followed by a decline toward 3,255.
The Elliott Wave structure, with a pivot at 3,345, supports this scenario. The correction to the upper envelope limit near 3,382 may give way to a decline through 3,320 down to the lower boundary at 3,255.
Summary: A short-term rise to 3,382 may precede a deeper decline to 3,255.
Brent Crude Forecast – 4 August 2025
Brent has been correcting lower after consolidating near 71.80, reaching down toward 68.55. The correction is expected to end soon, with a bullish wave potentially emerging toward 72.62 and, if broken, extending to 76.10.
The Elliott Wave structure highlights 69.30 as a crucial pivot. A brief dip to 67.70 is not ruled out before a reversal toward 76.10 and possibly 79.34.
Summary: Brent may complete its downward correction and begin a bullish move toward 73.63 and 76.10.
Risk Disclaimer:
The performance of past trading strategies is not indicative of future results. All forecasts are based on technical analysis and are subject to change based on market dynamics.
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