Daily technical analysis and forecast for 31 October 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 31 October 2025.
EURUSD forecast
On the H4 chart, EURUSD completed a downward wave to 1.1547. On 31 October 2025, the pair may extend the decline to 1.1500, with potential to stretch the structure to 1.1488. Afterwards, a consolidation around this level is possible. A downside breakout would open the way towards 1.1420, with the main target standing at 1.1240.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish wave matrix, with a pivot point at 1.1585, which is viewed as key in the EURUSD wave structure. A move towards the lower boundary of the Price Envelope at 1.1488 is expected today, followed by a corrective leg towards its central line at 1.1550.
Technical indicators for today’s EURUSD forecast suggest a decline towards 1.1500 and 1.1488.
USDJPY forecast
On the H4 chart, USDJPY completed a growth wave to 154.40. On 31 October 2025, a consolidation range is expected to form below this level. An upside breakout would open potential for continuation towards 155.70 with a possible extension to 157.57 as a local estimated target. A downside breakout could trigger a corrective move to at least 151.88.
Technically, this scenario is supported by the Elliott Wave structure and the bullish wave matrix with a pivot point at 151.88, considered key for this wave. The market reached the upper boundary of the Price Envelope at 154.40. A pullback towards its central line at 153.15 is expected, with scope to continue towards the lower boundary at 151.88 (testing from above).
Technical indicators for today’s USDJPY forecast suggest a correction towards 153.15 and 151.88.
GBPUSD forecast
On the H4 chart, GBPUSD reached the target of the decline structure at 1.3116. On 31 October 2025, a consolidation range around 1.3150 is expected. An upside breakout could lead to a corrective leg towards 1.3242. A downside breakout would open potential for continuation towards at least 1.3014.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish wave matrix, with a pivot point at 1.3242, which is viewed as key within this wave. The market has completed a decline to the lower boundary of the Price Envelope at 1.3116, a local target. A corrective move towards the central line at 1.3242 is possible, followed by a decline to the lower boundary at 1.3014.
Technical indicators for today’s GBPUSD forecast suggest a correction towards 1.3242 and the start of a decline to 1.3014.
AUDUSD forecast
On the H4 chart, AUDUSD completed a downward wave to 0.6532. On 31 October 2025, a consolidation range is forming above this level. A downside breakout would open the door for a further move towards 0.6489, with the trend possibly extending to 0.6350.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish wave matrix, with a pivot point at 0.6533, which is considered key for this wave. The market previously corrected to the upper boundary of the Price Envelope at 0.6616. A move towards the lower boundary at 0.6489 is expected today.
Technical indicators for today’s AUDUSD forecast suggest the start of a downward wave towards 0.6489.
USDCAD forecast
On the H4 chart, USDCAD is forming an upward wave towards 1.4050. On 31 October 2025, the pair is expected to reach this target before undergoing a correction towards 1.3969. A new consolidation range around 1.3969 may then develop. An upside breakout from that range would open potential for a rise to 1.4141, with scope to extend to 1.4160 as a local estimated target.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish wave matrix, with a pivot point at 1.3969, which is viewed as key for this wave. The market has completed a corrective structure to the lower boundary of the Price Envelope at 1.3888. A rise towards the upper boundary at 1.4050 is relevant today, followed by a correction towards the central line at 1.3969 (testing from above).
Technical indicators for today’s USDCAD forecast suggest the upward wave could continue towards 1.4050.
XAUUSD forecast
On the H4 chart, XAUUSD is forming a consolidation range around 3,974. On 31 October 2025, the range may expand upwards to 4,056, then decline to 3,880, followed by a rise to 4,020. This will effectively outline a wider consolidation band around 4,020. A downside breakout would open potential for a further correction towards 3,785 with prospects of extending the wave to 3,660. An upside breakout would open potential for trend continuation towards 4,400.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish wave matrix with a pivot point at 3,660, considered key for this wave. The market is shaping a corrective move to the lower boundary of the Price Envelope at 3,880, then a rise towards its central line at 4,020.
Technical indicators for today’s XAUUSD forecast point to continued correction towards 3,880.
Brent forecast
On the H4 chart, Brent crude is forming a corrective structure towards 63.00. On 31 October 2025, completion of this correction is possible, followed by growth towards 66.10. A breakout above 66.10 would open potential for a continued upward move towards 69.15, with prospects of extending the uptrend to 72.22.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish wave matrix, with a pivot point at 66.00, which is viewed as key for this wave. The market reached the upper boundary of the Price Envelope at 65.99 and continues to correct towards the lower boundary at 63.00. After the correction completes, a rise towards the upper boundary at 69.15 is possible.
Technical indicators for today’s Brent forecast suggest the completion of the correction near 63.00 and the start of growth towards 69.15.
