Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 6 August 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market continues to develop a compact consolidation range around 1.1566 without a clear trend. A Pennant structure has formed. Today, 6 August 2025, the market attempts to break out of this range upwards. An extension up to 1.1616 and down to 1.1480 is possible. If the price breaks below, the downward wave could continue towards 1.1344 (first target). Later, a return to 1.1550 remains relevant (second target).
Technically, the indicated Elliott Wave structure and the downward wave matrix with a pivot at 1.1550 confirm this scenario. It is considered key in the EURUSD wave structure. At the moment, the market forms a corrective wave to the upper boundary of the price Envelope at 1.1616. After reaching this level, the price may dip towards its lower boundary at 1.1347.
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, 6 August 2025, a compact consolidation range is expected to form around 147.44. If the price breaks down, the wave may continue to 145.55. If it breaks upwards, growth to 149.33 may follow. A breakout above this level could extend the wave towards 153.14.
Technically, the scenario for USDJPY is confirmed by the Elliott Wave structure and a growth wave matrix centred at 146.77, which is considered key in this structure. Currently, the market has completed a rise to the upper boundary of the price Envelope at 150.90 and corrected down to 147.00 (testing from above). An extension down to the lower boundary at 145.55 is possible. Then, the price is expected to rise to its upper boundary at 153.14.
Technical indicators for today’s USDJPY forecast suggest the beginning of a growth wave towards 153.14.
GBPUSD forecast
On the H4 chart of GBPUSD, the market forms a compact consolidation range around 1.3289. Today, 6 August 2025, an upward breakout may extend the range towards 1.3366. If the price breaks downwards, the market could resume the downward wave (fifth in the Matrix) targeting 1.3155. A breakout below this level may extend the wave to 1.2942 as the first target.
Technically, this GBPUSD scenario is confirmed by the Elliott Wave structure and the downward wave matrix centred at 1.3366. This level is considered key. At the moment, the market has completed a downward wave to the lower boundary of the price Envelope at 1.3141. The correction may continue to the central line at 1.3366, followed by a decline to its lower boundary at 1.2942.
Technical indicators for today’s GBPUSD forecast suggest the completion of a correction at 1.3366 and the beginning of a downward wave to 1.2942.
AUDUSD forecast
On the H4 chart of AUDUSD, the market continues to consolidate around 0.6466 without a clear trend. A Pennant structure has formed. Today, 6 August 2025, an upward breakout may lead to a continuation of the correction towards 0.6515. A downward breakout may extend the wave to 0.6408 as the first target.
Technically, the scenario is confirmed by the Elliott Wave structure and the downward wave matrix for AUDUSD, with a pivot at 0.6515, considered key. At present, the market has completed a decline to the lower boundary of the price Envelope at 0.6417. Today, the price could correct to the central line at 0.6515 before continuing the wave to its lower boundary at 0.6408.
Technical indicators for today’s AUDUSD forecast suggest completing the correction at 0.6515 and initiating a downward wave towards 0.6408.
USDCAD forecast
On the H4 chart of USDCAD, the market continues to consolidate around 1.3800 without a clear trend. A Pennant pattern has formed. Today, 6 August 2025, we expect a downward breakout and continuation of the correction wave to 1.3715 at minimum. Later, a growth wave to 1.3890 remains relevant.
Technically, the Elliott Wave structure and the upward wave matrix centred at 1.3715 confirm this scenario, and this level is key for USDCAD in this wave. At the moment, the market consolidated around the central line of the price Envelope at 1.3800 and broke downwards. Today, a decline to its lower boundary at 1.3715 is likely.
Technical indicators for today’s USDCAD forecast suggest a decline towards 1.3715.
XAUUSD forecast
On the H4 chart of XAUUSD, the market completed a correction to 3,390. Today, 6 August 2025, the price could decline to 3,333. If this level is broken, the wave may extend to 3,255 as a local target.
Technically, the Elliott Wave structure and the downward wave matrix centred at 3,345 confirm this scenario. This level is key for XAUUSD in this wave. At present, the market has completed a correction to the upper boundary of the price Envelope at 3,390. Subsequently, the price could dip to its central line at 3,333, with the wave potentially continuing towards the lower boundary at 3,255.
Technical indicators for today’s XAUUSD forecast suggest a potential start of a downward wave towards 3,255.
Brent forecast
On the H4 chart of Brent crude, the market formed a consolidation range around 68.77 and broke down to continue a correction towards 67.33. Today, 6 August 2025, the range is expected to expand upwards to 70.44. Then, we may see a decline to 68.77, followed by growth to 72.33, with a trend continuing towards 73.55.
Technically, the Elliott Wave structure and the growth wave matrix centred at 69.30 confirm this scenario. This level is key in the Brent structure. At the moment, the market is correcting towards the lower boundary of the price Envelope at 67.33. Then, growth towards the upper boundary at 73.57 becomes relevant, with a continuation of the trend to 79.34.
Technical indicators for today’s Brent forecast suggest the growth wave could continue towards 73.57.
Source: Roboforex
