Daily technical analysis and forecast for 29 August 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 29 August 2025.
EURUSD forecast
On the EURUSD H4 chart, the market formed a consolidation range around 1.1630 and, after breaking upwards, completed a growth wave to 1.1696. Today, 29 August 2025, a decline to 1.1630 (testing from above) is expected. Afterwards, another upward move to 1.1704 is possible. This would exhaust the potential of the growth wave, followed by a new downward wave to 1.1580 with continuation towards 1.1460 as the local target.
Technically, the Elliott wave structure and the downward wave matrix with a pivot at 1.1630 confirm this scenario for EURUSD. At the moment, the market continues to develop a growth wave to the upper boundary of the Price Envelope at 1.1704.
Technical indicators for today’s EURUSD forecast suggest a continued upward movement towards 1.1704.
USDJPY forecast
On the USDJPY H4 chart, the market broke below 147.30 and continues a downward wave to 146.11. Today, 29 August 2025, the pair is expected to reach this level and initiate a growth wave back to 147.30 with potential continuation to 148.80.
Technically, the Elliott wave structure and the upward wave matrix with a pivot at 147.44 confirm this as the key scenario for USDJPY. At the moment, the market continues to consolidate around the central line of the Price Envelope at 147.44. A downward breakout is expected with a move to the lower boundary at 146.11.
Technical indicators for today’s USDJPY forecast suggest a decline to 146.11.
GBPUSD forecast
On the GBPUSD H4 chart, the market continues to consolidate around 1.3500. Today, 29 August 2025, an upward breakout may open the potential for a move to 1.3600. A downward breakout may lead to a continuation of the wave to 1.3360 with prospects of extending the trend to 1.3142.
Technically, the Elliott wave structure and the downward wave matrix with a pivot at 1.3492 confirm this as the key scenario for GBPUSD. At the moment, the market is consolidating around the central line of the Price Envelope at 1.3492, with expectations of a decline to its lower boundary at 1.3360.
Technical indicators for today’s GBPUSD forecast suggest a continued decline to 1.3360.
AUDUSD forecast
On the AUDUSD H4 chart, the market broke out upwards from its consolidation range, opening potential for a move to 0.6560. Today, 29 August 2025, this level is expected to be reached. Later, a new downward wave to 0.6486 is possible, and if broken, the trend may continue to 0.6400.
Technically, the Elliott wave structure and the downward wave matrix with a pivot at 0.6515 confirm this as the key scenario for AUDUSD. At the moment, the market is correcting towards the upper boundary of the Price Envelope at 0.6560.
Technical indicators for today’s AUDUSD forecast suggest a growth wave towards 0.6560.
USDCAD forecast
On the USDCAD H4 chart, the market broke below 1.3780 and continues its wave down to 1.3700. Today, 29 August 2025, this target is expected to be reached, followed by a correction to 1.3800. After the correction, another downward wave to 1.3650 may follow.
Technically, the Elliott wave structure and the downward wave matrix with a pivot at 1.3800 confirm this scenario for USDCAD. At the moment, the market is developing a downward wave to the lower boundary of the Price Envelope at 1.3700. Later, a rebound to its central line at 1.3800 (testing from below) is possible, with further decline to the lower boundary at 1.3650.
Technical indicators for today’s USDCAD forecast suggest a decline to 1.3700.
XAUUSD forecast
On the XAUUSD H4 chart, the market completed its local growth wave to 3,423. Today, 29 August 2025, a correction to 3,370 is possible. Later, another growth structure to 3,431 may develop, exhausting the growth potential. After that, a new downward wave to 3,290 is expected.
Technically, the Elliott wave structure and the downward wave matrix with a pivot at 3,350 confirm this as the key scenario for XAUUSD. At the moment, the market has completed growth to the upper boundary of the Price Envelope at 3,423. A decline to its central line at 3,371 is expected, with a possible continuation to its lower boundary at 3,333.
Technical indicators for today’s XAUUSD forecast suggest a decline to 3,371.
Brent forecast
On the Brent H4 chart, the market broke above 67.45 and continues a growth wave to 68.88 as the first target. Today, 29 August 2025, this target may be reached. Afterwards, a correction to 66.80 is possible.
Technically, the Elliott wave structure and the upward wave matrix with a pivot at 67.70 confirm this as the key scenario for Brent. Currently, the market is continuing its growth wave towards the upper boundary of the Price Envelope at 68.88. Later, a correction to its central line at 66.60 may follow.
Technical indicators for today’s Brent forecast suggest a growth wave to 68.88.
