Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 5 August 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market continues to develop a compact consolidation range around the 1.1550 level without a clearly defined trend. Today, 5 August 2025, an expansion of the range upwards to 1.1616 and downwards to 1.1347 is possible. The first target lies in this range. Afterwards, a return to the 1.1550 level is possible – the second target.
Technically, the specified Elliott wave structure and the downward wave matrix centred at 1.1550 confirm this scenario. This level is viewed as key in the wave structure for EURUSD. Currently, the market is forming a corrective wave towards the upper boundary of the price Envelope at 1.1616. Upon reaching this target, a downward wave towards the lower boundary at 1.1347 is possible.
Technical indicators for today’s EURUSD forecast suggest the correction could end at 1.1616, followed by a downward wave towards 1.1347.
USDJPY forecast
On the H4 chart of USDJPY, the market has completed a correction to 146.70. Today, 5 August 2025, a rise towards 149.80 is possible, followed by the formation of a fifth wave structure with a target at 153.14.
Technically, the Elliott wave structure and the upward wave matrix centred at 147.00 support this scenario. This level is considered key in the current wave structure. The market previously completed a wave up to the upper boundary of the price Envelope at 150.90 and a correction to the lower boundary at 146.52. Today, a rise to the upper boundary at 153.14 is possible.
Technical indicators for today’s USDJPY forecast suggest the beginning of an upward wave towards 153.14.
GBPUSD forecast
On the H4 chart of GBPUSD, the market is forming a compact consolidation range around 1.3289. Today, 5 August 2025, if the price breaks upwards, a rise to 1.3366 is possible. A downward breakout could lead to a continuation of the downward wave – the fifth in the Matrix – with a target at 1.2942.
Technically, the Elliott wave structure and the downward wave Matrix centred at 1.3366 support this scenario. This level is viewed as key in the wave structure. The market previously completed a wave down to the lower boundary of the price Envelope at 1.3141. A further correction to the central line at 1.3366 is possible, followed by a wave down to the lower boundary at 1.2942.
Technical indicators for today’s GBPUSD forecast suggest the correction could end at 1.3366, followed by a downward wave towards 1.2942.
AUDUSD forecast
On the H4 chart of AUDUSD, the market continues to develop a consolidation range around 0.6464 without a clearly defined trend. Today, 5 August 2025, a breakout upwards could lead to a correction towards 0.6515. A breakout downwards could signal a continuation of the wave to 0.6408 as the first target.
Technically, the Elliott wave structure and the AUDUSD downward wave Matrix centred at 0.6515 confirm this scenario. This level is viewed as key in the current wave. The market previously formed a downward wave to the lower boundary of the price Envelope at 0.6417. A corrective wave to the central line at 0.6515 is possible today, followed by a continuation of the wave to the lower boundary at 0.6408.
Technical indicators for today’s AUDUSD forecast suggest the correction could complete at 0.6515 and a downward wave could start, aiming for 0.6408.
USDCAD forecast
On the H4 chart of USDCAD, the market continues to form a consolidation range around 1.3800 without a clearly defined trend. Today, 5 August 2025, a further correction to 1.3715 is possible. Afterwards, a rise towards 1.3890 is expected.
Technically, the Elliott wave structure and the upward wave matrix centred at 1.3715 confirm this scenario. This level is viewed as key in the wave structure for USDCAD. The market formed a consolidation range around the central line of the price Envelope at 1.3800 and exited it downwards. Today, a move to the lower boundary at 1.3715 is possible.
Technical indicators for today’s USDCAD forecast suggest a decline to 1.3715.
XAUUSD forecast
On the H4 chart of XAUUSD, the market completed a correction to 3,383. Today, 5 August 2025, a decline to 3,333 is possible. If this level breaks, a further decline to the local target of 3,255 could follow.
Technically, the Elliott wave structure and the downward wave matrix centred at 3,345 support this scenario. This level is viewed as key in the current wave. The market previously reached the upper boundary of the price Envelope at 3,383. A decline to the central line at 3,333 is now possible, with a potential continuation to the lower boundary at 3,255.
Technical indicators for today’s XAUUSD forecast point to a likely start of a downward wave towards 3,255.
Brent forecast
On the H4 chart of Brent crude oil, the market has formed a consolidation range around 68.75. Today, 5 August 2025, an extension of the range down to 67.77 is possible. Afterwards, a new upward wave towards 70.64 may begin. If this level breaks upwards, the trend may continue to 76.10 as the local target.
Technically, the Elliott wave structure and the upward wave matrix centred at 69.30 confirm this scenario. This level is considered key in the wave structure for Brent. Currently, the market is correcting to the lower boundary of the price Envelope at 67.77. Afterwards, a rise to the upper boundary at 76.10 is possible, with a further trend extension to 79.34.
Technical indicators for today’s Brent forecast suggest the correction may soon complete and a rise towards 73.63 and 76.10 is possible.
Source: Roboforex
