Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 6 February 2025.
EURUSD forecast
On the H4 chart, EURUSD completed a growth wave to 1.0441 and formed a downward impulse to 1.0390. Today, 6 February 2025, a correction towards 1.0410 is expected. A consolidation range is forming near the peak of the growth wave. If the price breaks downward, a new decline towards 1.0355 may develop as the first target.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.0355, which serves as a key level for EURUSD. Currently, the market has completed a growth wave towards the upper boundary of the price Envelope at 1.0441. Further movement may see a decline towards the central line at 1.0355.
Technical indicators for today’s EURUSD forecast suggest the probability of a decline towards 1.0355.
USDJPY forecast
On the H4 chart, USDJPY completed a downward wave to 152.15. Today, 6 February 2025, a narrow consolidation range has formed around this level, and with a downward breakout, the decline may extend to 151.50. After reaching this level, a correction towards 153.50 is possible. Further decline towards 151.10 is expected.
Technically, this scenario for USDJPY is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 153.50. Currently, the market has completed a downward wave to the lower boundary of the price Envelope at 152.15. A potential correction towards the central line at 153.50 is expected before further decline towards 151.10.
Technical indicators for today’s USDJPY forecast suggest the probability of a decline towards 151.50 and 151.10.
GBPUSD forecast
On the H4 chart, GBPUSD completed a growth wave to 1.2533. Today, 6 February 2025, a downward impulse towards 1.2390 is expected. A correction to 1.2470 may follow before a potential decline towards 1.2222 as the local target.
Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2390. Currently, the market is consolidating near the upper boundary of the price Envelope. A breakout from this consolidation range downwards is expected, leading to further decline towards the lower boundary of the Envelope at 1.2222.
Technical indicators for today’s GBPUSD forecast suggest the likelihood of a decline towards 1.2222.
AUDUSD forecast
On the H4 chart, AUDUSD completed a growth wave to 0.6288. Today, 6 February 2025, a decline towards 0.6187 is expected. After reaching this level, a consolidation range may form. If the price breaks upwards, a correction to 0.6240 is possible. A downward breakout could extend the wave to 0.6077.
Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix for AUDUSD, with a pivot point at 0.6187. Currently, the market has completed a growth wave towards the upper boundary of the price Envelope at 0.6288. Further movement is expected to decline towards the lower boundary at 0.6187.
Technical indicators for today’s AUDUSD forecast suggest the probability of a decline towards 0.6187.
USDCAD forecast
On the H4 chart, USDCAD completed a downward wave to 1.4270. Today, 6 February 2025, an upward impulse towards 1.4410 is expected. If this level is breached, the growth wave may extend towards 1.4541, with a potential continuation towards 1.4808.
Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.4541, which is considered a key level for USDCAD in this wave structure. Currently, the market has completed a downward wave to the lower boundary of the price Envelope at 1.4272. Further movement is expected towards the upper boundary at 1.4541.
Technical indicators for today’s USDCAD forecast suggest the probability of a growth wave towards 1.4541.
XAUUSD forecast
On the H4 chart, XAUUSD completed a growth wave to 2,880. Today, 6 February 2025, a consolidation range is expected to form below this level. If the price breaks downwards, a decline towards 2,844 is possible. An upward breakout could continue the trend towards 2,895, with a possible extension to 2,915.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 2,844, which serves as a key level for XAUUSD in this wave. Currently, the market is forming a growth wave structure towards the upper boundary of the price Envelope at 2,895. A correction towards the central line at 2,844 is expected before a potential new growth wave towards 2,915.
Technical indicators for today’s XAUUSD forecast indicate the probability of growth towards 2,895 and 2,915.
Brent forecast
On the H4 chart, Brent formed a growth impulse to 76.46. Today, 6 February 2025, a correction to 74.40 has taken place. Further movement is expected towards 78.50, with a potential continuation to 79.00 as the first target.
Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 77.00, which is considered a key level for Brent. Currently, the market has completed a downward wave towards the lower boundary of the price Envelope at 74.05. After reaching this level, a consolidation range is forming above it. A breakout upwards is expected, initiating a growth wave towards the central line of the Envelope at 77.00, with a further trend extension towards 79.00.
Technical indicators suggest that today’s Brent forecast considers the probability of growth towards 77.00 and 79.00.
Source: Roboforex
