Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 21 July 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market completed a correction wave to 1.1670. Today, 21 July 2025, a downward wave structure is forming towards 1.1593. A breakout below this level would open potential for a further decline to 1.1520, at minimum – this is the first target.
Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.1675. This level remains key in the EURUSD wave structure. The market continues to move lower towards the bottom of the price Envelope at 1.1520. Afterwards, a growth wave towards its central line at 1.1675 is expected.
Technical indicators for today’s EURUSD forecast suggest the continuation of the downward wave to 1.1520.
USDJPY forecast
On the H4 chart of USDJPY, the market corrected to 147.94. Today, 21 July 2025, a rise towards 149.15 is expected. A breakout above this level may unlock potential for an upward move to 150.05. After reaching this level, a correction to 147.10 may follow.
Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 147.10. This level is considered key within the current wave structure. The market is forming a wave towards the upper boundary of the price Envelope at 150.05. Afterwards, a decline to its central line at 147.12 may develop.
Technical indicators for today’s USDJPY forecast suggest the continuation of the growth wave towards 150.05.
GBPUSD forecast
On the H4 chart of GBPUSD, the market completed a correction to 1.3473. Today, 21 July 2025, the pair is expected to decline to 1.3390. A breakout below this level may extend the wave towards 1.3300 as a local target. Afterwards, a correction towards 1.3390 is expected, followed by a further drop to 1.3295.
Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot point at 1.3455. This level remains key in the current GBPUSD wave structure. The market continues moving towards the lower boundary of the price Envelope at 1.3300, with potential to extend the wave to 1.3295.
Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3300.
AUDUSD forecast
On the H4 chart of AUDUSD, the market completed a correction to 0.6539. Today, 21 July 2025, the downward wave is expected to continue towards 0.6484. A breakout below this level could lead to a further trend towards 0.6433 as a local target.
Technically, this scenario is confirmed by the Elliott wave structure and the AUDUSD growth wave matrix with a pivot point at 0.6500. This level remains key in the current wave structure. The market completed a decline to the lower boundary of the price Envelope at 0.6454 and corrected to its central line. A new downward wave to the lower boundary at 0.6433 remains possible.
Technical indicators for today’s AUDUSD forecast suggest a further decline to 0.6433.
USDCAD forecast
On the H4 chart of USDCAD, the market continues an upward wave towards 1.3800. Today, 21 July 2025, the price is expected to reach this target and begin a correction towards 1.3685.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.3685. This level is considered key in the current USDCAD wave structure. The market continues to develop a consolidation range around the price Envelope’s central line at 1.3685. Today, a move to the upper boundary at 1.3800 is possible.
Technical indicators for today’s USDCAD forecast suggest a decline towards 1.3800.
XAUUSD forecast
On the H4 chart of XAUUSD, the market broke above 3,348 and continues an upward wave towards 3,384. Today, 21 July 2025, this target is expected to be reached. Afterwards, a correction towards at least 3,333 may follow.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 3,344. This level remains key for XAUUSD in the current wave. The market is forming a narrow consolidation range around the central line of the price Envelope at 3,344. A breakout to the upside may extend the wave to the upper boundary at 3,384, while a downward breakout may lead the wave to its lower boundary at 3,235.
Technical indicators for today’s XAUUSD forecast point to continued growth towards 3,384.
Brent forecast
On the H4 chart of Brent crude, the market corrected to 68.60. Today, 21 July 2025, a growth leg towards 70.20 is possible. A breakout to the upside may unlock potential for a wave towards 71.40. A breakout downwards may expand the range to 66.90.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 68.60. This level remains key in the Brent wave structure. The market is forming a consolidation range around the price Envelope’s central line at 68.60. A move towards its upper boundary at 71.40 is relevant, although a decline to its central line at 68.60 may also follow later.
Technical indicators for today’s Brent forecast suggest a continuation of the growth wave towards 71.40.
Source: Roboforex
