Daily technical analysis and forecast for 7 November 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 7 November 2025.
EURUSD forecast
On the EURUSD H4 chart, the market completed a corrective wave towards 1.1550. On 7 November 2025, the price may form a consolidation range below this level. A breakout above the range could trigger another corrective move towards 1.1565, while a breakout to the downside could extend the third wave along the downtrend towards at least 1.1405, a local target.
This scenario aligns with the given Elliott wave structure and the matrix of the downward wave with a pivot point at 1.1565, which acts as a key element in the EURUSD wave structure. The current expectation is for the correction to end, followed by a decline towards the lower boundary of the Price Envelope at 1.1444, with the potential continuation of the trend towards 1.1405.
Technical indicators for today’s EURUSD forecast suggest a possible decline towards 1.1405.
USDJPY forecast
On the USDJPY H4 chart, the market is forming a consolidation range around 153.33. On 7 November 2025, the price may expand this range downwards to 152.20. If it breaks above the range, the market could continue its upward wave towards 155.70, with an extension potential to 157.57 as a local estimated target. A downward breakout could trigger a correction towards 151.22 at least, followed by further growth towards 155.70.
This scenario is supported by the given Elliott wave structure and the matrix of the upward wave with a pivot point at 151.90, which acts as a key element in the USDJPY wave structure. Currently, the market is forming a consolidation range around the central line of the Price Envelope at 153.33. A downward move towards its lower boundary at 152.20 (testing from above) is expected next, followed by a rise towards the upper boundary at 155.70.
Technical indicators for today’s USDJPY forecast suggest a potential correction towards 152.20.
GBPUSD forecast
On the GBPUSD H4 chart, the market completed a corrective move towards 1.3140. On 7 November 2025, a consolidation range is expected to develop below this level, with a downward breakout likely to extend the decline towards 1.2900. The target is local, within the third wave of the downtrend.
This scenario is confirmed by the given Elliott wave structure and the matrix of the downward wave with a pivot point at 1.3140, which acts as a key element in the GBPUSD wave structure. Currently, a correction wave has formed towards the central line of the Price Envelope at 1.3140. The next move may be a decline towards its lower boundary at 1.2900.
Technical indicators for today’s GBPUSD forecast suggest a downward wave towards 1.2900.
AUDUSD forecast
On the AUDUSD H4 chart, the market rebounded downwards from 0.6515. On 7 November 2025, the downward movement is expected to continue towards 0.6470, with a potential drop lower towards 0.6422. This represents only half of the third downward wave towards 0.6226. The target is local and estimated.
This scenario aligns with the given Elliott wave structure and the matrix of the downward wave in AUDUSD with a pivot point at 0.6470, which serves as a key element in this wave structure. Currently, the market completed a corrective wave towards the central line of the Price Envelope at 0.6515. The next move may be a decline towards the lower boundary at 0.6422, with the potential continuation of the third wave towards 0.6226.
Technical indicators for today’s AUDUSD forecast suggest a downward wave towards 0.6422.
USDCAD forecast
On the USDCAD H4 chart, the market is forming a consolidation range below 1.4139. On 7 November 2025, a breakout upwards could trigger a rise towards 1.4160. A downward breakout may lead to a corrective wave towards 1.4024, followed by another rise towards 1.4160.
This scenario is confirmed by the given Elliott wave structure and the matrix of the upward wave with a pivot point at 1.3939, which acts as a key element in the USDCAD wave structure. Currently, the market is shaping an upward move towards the upper boundary of the Price Envelope at 1.4160. Today, the price could reach this target level before undergoing a correction towards the central line at 1.4020, with a potential extension of the correction towards 1.3939.
Technical indicators for today’s USDCAD forecast suggest continued upward momentum towards 1.4160.
XAUUSD forecast
On the XAUUSD H4 chart, the market continues to move within a consolidation range around 4,020 without a clear directional trend. On 7 November 2025, the range may expand downwards to 3,906, followed by growth towards 3,970. Later, a further decline towards 3,880 is possible, as the market remains within a broader consolidation around 4,020. A breakout to the downside could extend the correction towards 3,660, while a breakout upwards may open the potential for a trend continuation towards 4,400.
This scenario aligns with the given Elliott wave structure and the upward wave matrix with a pivot point at 3,660, which acts as a key element in the XAUUSD wave structure. Currently, the market is forming a corrective move towards the lower boundary of the Price Envelope at 3,880, followed by growth towards its central line at 4,020.
Technical indicators for today’s XAUUSD forecast indicate a possible decline towards 3,880.
Brent forecast
On the H4 chart of Brent crude oil, the market completed a correction towards 62.75. On 7 November 2025, a rise towards 64.65 is possible. A breakout above this level could trigger a further upward wave towards 66.10 at least. After that, a compact consolidation range may form around this level. A breakout upwards could extend the wave towards 69.40 with a continuation potential towards 72.30.
This scenario is confirmed by the given Elliott wave structure and the matrix of the upward wave with a pivot point at 66.10, which acts as a key element in the Brent wave structure. Currently, the market completed a correction towards the lower boundary of the Price Envelope at 62.75. After the correction ends, the next move may develop as an upward impulse towards its upper boundary at 66.10.
Technical indicators for today’s Brent forecast suggest the beginning of a rise towards 69.10.
