Daily technical analysis and forecast for 28 October 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 28 October 2025.
EURUSD forecast
On the H4 chart, EURUSD broke out of the consolidation range upwards and continues developing a correction toward 1.1666. On 28 October 2025, the pair may reach this level and then decline to 1.1625. Later, another upward leg toward 1.1672 cannot be ruled out, where the correction is expected to complete. Afterwards, a decline to 1.1533 is likely. A breakout below this level would open potential for continuation of the downward wave to 1.1488.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish Wave Matrix with a rotation centre at 1.1730, considered key in the EURUSD wave structure. A move toward the central line of the Price Envelope at 1.1625 is expected today, followed by a rise to its upper boundary at 1.1672.
Technical indicators for today’s EURUSD forecast suggest considering a decline toward 1.1625 and a rise to 1.1672.
USDJPY forecast
On the H4 chart, USDJPY completed a corrective wave to 151.73. On 28 October 2025, an upward move toward 152.52 is expected. Later, another corrective pullback to 151.70 (retest from above) is possible, followed by growth toward 154.30 — the local calculated target.
Technically, this scenario is supported by the Elliott Wave structure and the bullish Wave Matrix with a rotation centre at 149.80, which is key for this wave. The market formed a consolidation range around the central line of the Price Envelope at 151.70. Further continuation of the upward wave toward its upper boundary at 154.30 is expected.
Technical indicators for today’s USDJPY forecast suggest considering a correction to 151.70 followed by growth to 154.33.
GBPUSD forecast
On the H4 chart, GBPUSD formed a consolidation range around 1.3333 and broke upward, suggesting a correction toward 1.3380. On 28 October 2025, completion of this correction at the stated level is expected. Afterwards, the market may continue developing the third downward wave in the current downtrend. The next target lies at 1.3213, which is only halfway through the wave. The main target for the third wave is at 1.2962.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish Wave Matrix with a rotation centre at 1.3490, viewed as key in this wave. A consolidation range has formed around the central line of the Price Envelope at 1.3380. The market is expected to complete the correction and then decline to the lower boundary at 1.3213.
Technical indicators for today’s GBPUSD forecast suggest considering a decline toward 1.3213.
AUDUSD forecast
On the H4 chart, AUDUSD expanded its consolidation range toward 0.6564. On 28 October 2025, a decline to 0.6500 is expected. A breakout below this level would open potential for continuation of the wave toward 0.6432, with prospects of extending the trend to 0.6350.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish Wave Matrix with a rotation centre at 0.6525, which is key for this wave. The market completed a corrective wave toward the upper boundary of the Price Envelope at 0.6542. A decline toward the lower boundary at 0.6432 is expected today.
Technical indicators for today’s AUDUSD forecast suggest considering the start of a downward wave toward 0.6432.
USDCAD forecast
On the H4 chart, USDCAD continues forming a consolidation range around 1.4019. On 28 October 2025, a decline toward 1.3960 is possible, followed by the start of an upward wave toward 1.4040. A breakout above this level would open potential for continuation of the uptrend toward 1.4160 — the local calculated target.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish Wave Matrix with a rotation centre at 1.3940, viewed as key for this wave. The market is building a corrective structure toward the lower boundary of the Price Envelope at 1.3960. A rebound from this area may lead to a rise toward 1.4040, and a breakout of this level could continue the trend toward 1.4160. Later, a correction toward the central line at 1.3940 (retest from above) is possible.
Technical indicators for today’s USDCAD forecast suggest considering the continuation of the upward wave toward 1.4040 and 1.4160.
XAUUSD forecast
On the H4 chart, XAUUSD continues a correction toward 3,940. On 28 October 2025, reaching this level is possible, followed by growth toward 4,055. This will outline a new consolidation range. A downward breakout would open potential for continuation of the correction toward 3,785, with prospects of extending the wave to 3,666. An upward breakout would open potential for trend continuation toward 4,400.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish Wave Matrix with a rotation centre at 3,660, considered key in this wave. The market is forming a corrective structure toward the lower boundary of the Price Envelope at 3,940, followed by a possible rise toward the upper boundary at 4,400.
Technical indicators for today’s XAUUSD forecast point to continued correction toward 3,940.
Brent forecast
On the H4 chart, Brent crude is forming a consolidation range at the top of the upward impulse, around 65.00. On 28 October 2025, expansion of the range downward toward 64.00 is possible, followed by a rebound to 65.00. An upward breakout would open potential for continuation of the growth wave toward 68.08, with prospects of extending the uptrend to 70.77. A downward breakout, however, could trigger a correction toward 63.00 before growth resumes toward 68.08.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish Wave Matrix with a rotation centre at 63.00, which is key for Brent in this wave. The market reached the upper boundary of the Price Envelope at 65.99 and continues a corrective move toward the central line at 63.00. Later, an upward impulse toward the upper boundary at 70.77 is possible.
Technical indicators for today’s Brent forecast suggest considering the end of the correction and the beginning of growth toward 68.08 and 70.77.
