Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 28 July 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market completed a downward impulse to 1.1703. Today, 28 July 2025, a correction has formed up to 1.1769. A further decline towards 1.1700 is possible. If the price breaks this level, a continuation of the downward wave to 1.1640 may follow, with the structure likely extending to 1.1630.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 1.1660 confirm this scenario. This level remains key in the EURUSD wave structure. The market previously reached the upper boundary of the price Envelope at 1.1788 and dropped to its central line at 1.1703. A move up to 1.1770 is possible, followed by a decline towards the lower boundary at 1.1630.
Technical indicators for today’s EURUSD forecast suggest a downward wave to 1.1630.
USDJPY forecast
On the H4 chart of USDJPY, the market completed a correction to 148.00. Today, 28 July 2025, the price may continue falling to 145.75, with the trend potentially extending to 144.22 as a local target.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 148.00 support this scenario. This level is key to the current wave structure. The market is moving towards the lower boundary of the price Envelope at 145.75. A rebound to the central line at 147.07 could follow, and then a new decline to the lower boundary at 144.22 may develop.
Technical indicators for today’s USDJPY forecast suggest a continuation of the downward wave to 145.75.
GBPUSD forecast
On the H4 chart of GBPUSD, the market completed a downward wave to 1.3424. Today, 28 July 2025, a rise to 1.3500 is possible. Subsequently, the downward wave could continue towards 1.3280 as a local target.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 1.3490 confirm this scenario. This level is considered key within the current wave structure. The market is now forming a consolidation range around the central line of the price Envelope. A continuation of the wave to the lower boundary at 1.3280 remains relevant.
Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3280.
AUDUSD forecast
On the H4 chart of AUDUSD, the market is forming a downward wave towards 0.6540. Today, 28 July 2025, this target is expected to be reached. A rebound to 0.6580 is likely afterwards. The price is consolidating around the 0.6580 level.
Technically, the Elliott wave structure and the AUDUSD growth wave matrix with a pivot point at 0.6540 confirm this scenario. This level is key in the wave structure. The market previously reached the upper boundary of the price Envelope at 0.6623. A downward move to the central line at 0.6540 is now unfolding. If the price breaks this level, the wave could continue to the lower boundary at 0.6444.
Technical indicators for today’s AUDUSD forecast suggest a possible start of a downward wave to 0.6540.
USDCAD forecast
On the H4 chart of USDCAD, the market completed an upward impulse to 1.3725. Today, 28 July 2025, a pullback to 1.3646 is expected. A new upward wave towards 1.3800 may follow.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 1.3640 confirm this scenario. This level remains key in the current USDCAD wave structure. The market formed a consolidation range around the central line of the price Envelope at 1.3646, then broke upwards to 1.3725. Today, a technical pullback and retest of 1.3646 from above is likely. A further rise to the upper boundary at 1.3800 is expected.
Technical indicators for today’s USDCAD forecast suggest a decline to 1.3646.
XAUUSD forecast
On the H4 chart of XAUUSD, the market is developing a downward wave towards 3,318. Today, 28 July 2025, a new upward wave to 3,375 is expected to start. A further decline to 3,312 is possible.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 3,375 support this scenario. This level is key in the XAUUSD wave structure. The market previously reached the lower boundary of the price Envelope at 3,318. A rise to the central line at 3,375 remains likely.
Technical indicators for today’s XAUUSD forecast point to an upward wave towards 3,375.
Brent forecast
On the H4 chart of Brent crude, the market continues consolidating around 68.55, without a clear trend. Today, 28 July 2025, the range may extend downwards to 66.55. A subsequent upward wave towards 68.38 is likely. If the price breaks this level, the wave could continue at least to 71.30.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 68.55 confirm this scenario. This level is key to the Brent structure. The market is now forming a consolidation range around the central line of the price Envelope at 68.55. A move down to 66.55 remains possible. Afterwards, a rise to the upper boundary at 71.30 remains relevant. Then a pullback to the central line at 68.55 could follow.
Technical indicators in today’s Brent forecast suggest the upward wave may continue to 71.30.
Source: Roboforex
