Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 24 July 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market completed a growth wave towards 1.1777. Today, 24 July 2025, the wave is expected to finish and initiate a new downward move to 1.1666, with potential to extend the trend to 1.1626.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 1.1660 support this scenario. This level is considered key in the EURUSD wave structure. At the moment, the market completed a wave towards the upper boundary of the price Envelope at 1.1777. A subsequent move towards the central line at 1.1666 is anticipated. Afterwards, a rebound towards the upper boundary at 1.1707 remains possible.
Technical indicators for today’s EURUSD forecast suggest a decline towards 1.1666.
USDJPY forecast
On the H4 chart of USDJPY, the market formed a consolidation range around 147.07 and broke downwards. Today, 24 July 2025, the downward wave is likely to continue to 145.05, with potential to extend the trend to 144.40.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 147.07 support this scenario. This level remains key in the current wave structure. The market is now forming a decline towards the lower boundary of the price Envelope at 145.05. A move upwards to the central line at 147.07 is expected next, followed by another drop to the lower boundary at 144.40.
Technical indicators for today’s USDJPY forecast suggest the downward wave could continue towards 145.05.
GBPUSD forecast
On the H4 chart of GBPUSD, the market formed a consolidation range around 1.3535 and broke out upwards, suggesting a possible continuation towards 1.3593. Today, 24 July 2025, this upward wave is expected to end, with a new downward move developing towards 1.3464. If the price breaks below this level, the downward wave could extend to 1.3333.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 1.3593 confirm this scenario. This level is key in the wave structure. Currently, the market is developing an upward move towards the upper boundary of the price Envelope at 1.3593. A decline towards its central line at 1.3460 (testing from above) is anticipated next.
Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3460.
AUDUSD forecast
On the H4 chart of AUDUSD, the market continues to develop an upward wave towards 0.6623. Today, 24 July 2025, this target is expected to be reached. Afterwards, a decline to 0.6546 remains possible. A breakout below this level would open the potential for the wave to extend to 0.6444.
Technically, the Elliott wave structure and the AUDUSD growth wave matrix with a pivot point at 0.6546 support this scenario. This level is key in the current wave structure. The market is now forming a wave towards the upper boundary of the price Envelope at 0.6623. A pullback to the central line at 0.6546 may follow. If broken, the wave could extend towards the lower boundary at 0.6444.
Technical indicators for today’s AUDUSD forecast suggest a possible start of a downward wave towards 0.6546.
USDCAD forecast
On the H4 chart of USDCAD, the market formed a growth impulse to 1.3638 and a correction to 1.3595. Today, 24 July 2025, a new upward wave is expected to begin towards 1.3656, with potential to continue the trend to 1.3680.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 1.3680 support this scenario. This level is key for the current USDCAD wave structure. The market previously completed a decline to the lower boundary of the price Envelope at 1.3575. Today, a move towards the central line at 1.3680 remains relevant.
Technical indicators for today’s USDCAD forecast suggest a rise to 1.3680.
XAUUSD forecast
On the H4 chart of XAUUSD, the market completed a decline to 3,385. Today, 24 July 2025, a consolidation range is expected to form around this level. A breakout downwards would open the potential for a move to 3,344 and an extension to 3,333.
Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 3,385 support this scenario. This level is key for the current XAUUSD wave structure. Previously, the market reached the upper boundary of the price Envelope at 3,430. Today, a drop to its lower boundary at 3,333 is anticipated. Afterwards, a return towards the central line at 3,385 remains possible.
Technical indicators for today’s XAUUSD forecast point to a continuation of the downward wave to 3,333.
Brent forecast
On the H4 chart of Brent crude, the market continues to develop a consolidation range above 67.50. Today, 24 July 2025, the range may expand downwards to 65.50. Afterwards, a new upward wave towards 69.38 is possible, with potential to extend the trend to 71.30.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 68.60 support this scenario. This level is considered key for the Brent wave structure. The market is currently consolidating around the central line of the price Envelope at 67.60. A rise to the upper boundary at 71.30 remains relevant. Later, a return towards the central line at 67.60 may follow.
Technical indicators for today’s Brent forecast suggest a continuation of the upward wave to 71.30.
Source: Roboforex
