Daily Technical Analysis and Forecast – 5 August 2025
EURUSD Forecast
On the H4 chart, EURUSD remains in a tight consolidation around 1.1550, showing no clear trend. Today, 5 August 2025, the range could expand upward to 1.1616 or downward to 1.1347, with the first target within this range. A return to 1.1550 is also possible as a secondary target.
The Elliott wave structure and the downward wave matrix centered at 1.1550 support this scenario. A corrective wave may continue toward the upper boundary of the price Envelope at 1.1616, followed by a downward wave toward the lower boundary at 1.1347.
Technical indicators suggest a correction to 1.1616 before a potential downward move to 1.1347.
USDJPY Forecast
USDJPY has completed a correction at 146.70 on the H4 chart. Today, a rise toward 149.80 is possible, followed by the formation of a fifth wave targeting 153.14.
The Elliott wave structure and upward wave matrix around 147.00 support this movement. Previously, the market completed a wave up to 150.90 and corrected to 146.52. Today, the market could continue upward toward 153.14.
Technical indicators suggest an upward wave toward 153.14 is likely.
GBPUSD Forecast
GBPUSD is consolidating around 1.3289 on the H4 chart. If the price breaks upward today, it could reach 1.3366. A downward breakout may continue the fifth wave downward, targeting 1.2942.
The Elliott wave structure and downward wave matrix centered at 1.3366 indicate that after a correction to 1.3366, a downward wave could follow to 1.2942.
Technical indicators suggest a potential correction up to 1.3366 before a downward move to 1.2942.
AUDUSD Forecast
AUDUSD is forming a consolidation around 0.6464. A breakout upward could push prices toward 0.6515, while a downward breakout may continue the wave to 0.6408.
The Elliott wave structure and downward wave matrix around 0.6515 suggest a corrective wave toward 0.6515, followed by a continuation downward to 0.6408.
Technical indicators suggest a correction to 0.6515 may complete before a downward wave to 0.6408 begins.
USDCAD Forecast
USDCAD is consolidating around 1.3800. A decline to 1.3715 is possible today, with a subsequent rise toward 1.3890.
The Elliott wave structure and upward wave matrix centered at 1.3715 confirm this scenario. The market may move to the lower boundary of the price Envelope at 1.3715 before resuming an upward trend.
Technical indicators suggest a drop to 1.3715 is likely.
XAUUSD (Gold) Forecast
Gold has corrected to 3,383. Today, a decline toward 3,333 is possible, with a further drop to 3,255 if this level breaks.
The Elliott wave structure and downward wave matrix around 3,345 indicate a move to 3,333, potentially continuing toward 3,255.
Technical indicators point to the start of a downward wave targeting 3,255.
Brent Crude Oil Forecast
Brent is consolidating around 68.75. Today, a move down to 67.77 is possible, followed by a new upward wave toward 70.64. A breakout above this level could extend the trend to 76.10.
The Elliott wave structure and upward wave matrix around 69.30 support this scenario. After a correction to 67.77, the market may rise toward 76.10, with a potential extension to 79.34.
Technical indicators suggest the correction is nearing completion and a rise toward 73.63–76.10 may follow.
Risk Warning: Past trading results do not guarantee future performance.
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