Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 29 July 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market continues to develop the second downward impulse. Today, 29 July 2025, the price completed a decline to 1.1574. A narrow consolidation range is forming around 1.1580. A breakout to the downside and continuation of the impulse towards 1.1393 is possible, with the trend likely to extend further to 1.1181.
Technically, the Elliott wave structure and the decline wave matrix with a pivot point at 1.1640 confirm this scenario. This level remains key in the EURUSD wave structure. The market reached the lower boundary of the price Envelope at 1.1574 and is now consolidating tightly around 1.1580. A breakdown is likely to lead to further decline towards 1.1488, possibly extending to 1.1375.
Technical indicators for today’s EURUSD forecast suggest a downward wave to 1.1375.
USDJPY forecast
On the H4 chart of USDJPY, the market is consolidating around 148.00. Today, 29 July 2025, a continued rise towards 149.17 is possible, with the trend likely to extend to 150.00.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 148.00 confirm this scenario. This level remains key in the wave structure. The market is currently rising towards the upper boundary of the price Envelope at 149.17. A pullback to the central line at 148.00 is not ruled out before a move towards the upper boundary at 150.00.
Technical indicators for today’s USDJPY forecast suggest a continued rise towards 150.00.
GBPUSD forecast
On the H4 chart of GBPUSD, the market consolidated around 1.3423 and then broke downwards. Today, 29 July 2025, a continued decline towards 1.3260 is likely. This is a local target. A rebound to 1.3366 (testing from below) is not excluded, followed by a drop to 1.3150.
Technically, the Elliott wave structure and the decline wave matrix with a pivot point at 1.3423 support this scenario. This level is key in the wave structure. The market has reached the lower boundary of the price Envelope at 1.3333. A further extension of the wave to 1.3260 is relevant.
Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3260.
AUDUSD forecast
On the H4 chart of AUDUSD, the market completed a downward wave to 0.6520. Today, 29 July 2025, a consolidation range may form above this level. If the price breaks downwards, a continuation of the decline to 0.6470 is likely, with the trend possibly extending to 0.6422.
Technically, the Elliott wave structure and the AUDUSD growth wave matrix with a pivot point at 0.6520 confirm this scenario. This level remains key in the wave structure. The market is currently moving towards the lower boundary of the price Envelope at 0.6470. A rebound towards the central line at 0.6520 may follow, then a continuation of the wave to the lower boundary at 0.6422.
Technical indicators for today’s AUDUSD forecast suggest the wave may extend down to 0.6422.
USDCAD forecast
On the H4 chart of USDCAD, the market is forming a consolidation range around 1.3714. Today, 29 July 2025, a breakout to the upside and a move towards 1.3800 is possible, with the wave potentially stretching to 1.3836.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 1.3714 confirm this scenario. This level remains key in the USDCAD wave structure. The market has formed a consolidation around the central line of the price Envelope at 1.3714 and broke upwards. A further move to the upper boundary at 1.3800 is likely.
Technical indicators for today’s USDCAD forecast suggest an upward move towards 1.3800.
XAUUSD forecast
On the H4 chart of XAUUSD, the market completed a downward wave to 3,302. Today, 29 July 2025, a rise towards 3,323 is not excluded, followed by a decline to 3,246.
Technically, the Elliott wave structure and the decline wave matrix with a pivot point at 3,339 confirm this scenario. This level is key to the XAUUSD wave structure. The market is currently heading to the lower boundary of the price Envelope at 3,246. Afterwards, a rise to the central line at 3,339 remains possible.
Technical indicators for today’s XAUUSD forecast indicate a downward wave to 3,246.
Brent forecast
On the H4 chart of Brent crude, the market completed a wave of growth to 69.55. Today, 29 July 2025, a consolidation range may form below this level. If the price breaks upward, the wave could continue to 71.30, possibly extending to 72.30 as a local target.
Technically, the Elliott wave structure and the growth wave matrix with a pivot point at 68.55 confirm this scenario. This level remains key in the Brent wave structure. The market is forming a consolidation range around the central line of the price Envelope at 68.55. A downward move to 67.55 is possible. Afterwards, a rise to the upper boundary at 72.30 is relevant. Then, a pullback to the central line at 69.55 may follow.
Technical indicators in today’s Brent forecast suggest a continued upward wave to 72.30.
Source: Roboforex
