Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 28 May 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market continues developing a correction towards 1.1275. Today, 28 May 2025, the price is expected to reach this level and then begin a new upward wave to 1.1380. A breakout above this level could extend the trend to 1.1485. After that, a decline to 1.1171 is possible.
This scenario is supported by the Elliott wave structure and the upward wave matrix with a pivot at 1.1275, considered key in the EURUSD wave. The market is currently forming a correction to the central line of the price Envelope at 1.1275. Today, the price is expected to hit this level and move to the upper boundary at 1.1485.
Technical indicators for today’s EURUSD forecast suggest the beginning of a growth wave to 1.1485.
USDJPY forecast
On the H4 chart of USDJPY, the market formed a consolidation range around 143.81 and broke upwards, suggesting a possible continuation of the wave to 145.40. The price is expected to reach this target level today, 28 May 2025. Afterwards, a decline to 143.81 may follow.
This scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot at 145.40, seen as key in this structure. The market has formed a consolidation around the central line of the price Envelope and broken out upwards. Today, a move to the upper boundary at 145.40 is likely, followed by a correction to the central line at 143.81.
Technical indicators for today’s USDJPY forecast suggest a rise to 145.40.
GBPUSD forecast
On the H4 chart of GBPUSD, the market continues forming a downward wave towards 1.3400. Today, 28 May 2025, the price is expected to reach this level. Afterwards, a rise to 1.3648 is possible.
This scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot at 1.3400, regarded as key in GBPUSD’s structure. The market previously completed a wave to the upper boundary of the price Envelope at 1.3590. Today, the price could correct towards the lower boundary at 1.3400 before rising to its upper boundary at 1.3648.
Technical indicators for today’s GBPUSD forecast suggest a correction to 1.3400.
AUDUSD forecast
On the H4 chart of AUDUSD, the market formed a consolidation range around 0.6446 and broke downwards. Today, 28 May 2025, a continuation of the downward wave to 0.6340 is possible. This is the initial target. Afterwards, a rebound to 0.6446 (testing from below) may follow. Overall, the market remains within a broad consolidation range around this level.
This scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot at 0.6430, considered key in this structure. The market previously completed an upward wave to the upper boundary of the price Envelope at 0.6536 and is now declining towards the lower boundary at 0.6340.
Technical indicators for today’s AUDUSD forecast suggest a continued downward wave to 0.6340.
USDCAD forecast
On the H4 chart of USDCAD, the market completed a growth wave to 1.3830. Today, 28 May 2025, a consolidation range could form below this level. A breakout upwards could lead to a continuation of the wave to 1.4033. A downward breakout may result in a correction to 1.3760, followed by a rise to 1.4033.
This scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot at 1.3880, considered key for USDCAD. The market previously completed a wave to the lower boundary of the price Envelope at 1.3690 and then rose to the central line at 1.3834. A breakout above this level would open the path to the upper boundary at 1.4033.
Technical indicators for today’s USDCAD forecast suggest a continued rise to 1.4033.
XAUUSD forecast
On the H4 chart of XAUUSD, the market is forming a wide consolidation range around 3,300. Today, 28 May 2025, a downward expansion to 3,255 is possible. Afterwards, a rebound to 3,388 may develop, followed by another downward move to 3,255. A breakout below this level would open potential for a continuation of the trend to 3,060, the initial target.
This scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot at 3,280, viewed as key in the XAUUSD wave. The market previously completed a correction to the upper boundary of the price Envelope at 3364. A downward wave to the lower boundary at 3,255 remains relevant.
Technical indicators for today’s XAUUSD forecast suggest a continuation of the downward wave to 3,255.
Brent forecast
On the H4 chart of Brent crude, the market continues consolidating around 64.44 with no clear trend. Today, 28 May 2025, a downward expansion to 62.50 is possible, potentially continuing the correction to 62.22. Afterwards, an upward wave towards the first target of 68.11 may develop.
This scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot at 63.33, considered key for Brent. The market is currently developing a correction towards the lower boundary of the price Envelope at 62.22.
Technical indicators for today’s Brent forecast suggest a continued correction to 62.22.
Source: Roboforex
