Daily technical analysis and forecast for 16 June 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 16 June 2025.

EURUSD forecast

On the H4 chart, EURUSD completed a downward wave to 1.1488 followed by a correction to 1.1569. The market has effectively outlined a new consolidation range at the top of the growth wave. Today, 16 June 2025, a downward breakout is expected towards 1.1404, the local target.

This scenario is supported by the Elliott wave structure and the decline wave matrix pivoting at 1.1555, which serves as the key point in this wave structure. The market previously completed a growth structure to the upper boundary of the price Envelope at 1.1629 and a first downward wave to its central line. Today’s outlook anticipates a break below 1.1488 and a continued decline to the lower boundary at 1.1404.

Technical indicators for today’s EURUSD forecast suggest a potential decline to 1.1404.

USDJPY forecast

On the H4 chart, USDJPY continues forming a consolidation range around 143.90. The market completed an upward leg to 144.94. Today, 16 June 2025, another rise to 145.00 is expected. Then a decline towards 142.22 could follow. A breakout below this may push the pair towards 139.55, the local target.

The Elliott wave structure and decline matrix with a pivot at 145.00 confirm this scenario as key to the current wave. The market is consolidating around the central line of the price Envelope at 144.00. Today’s forecast expects the price to reach 145.00 and start declining towards the lower boundary at 142.22.

Technical indicators for today’s USDJPY forecast suggest a potential decline to 142.22.

GBPUSD forecast

On the H4 chart, GBPUSD completed a first downward wave to 1.3518 followed by a correction to 1.3600. Today, 16 June 2025, a move down to 1.3500 is expected. If the price breaks this level, the wave may extend to 1.3434, the local target.

This scenario is supported by the Elliott wave structure and the decline matrix pivoting at 1.3518, which is considered crucial in the current wave. The market is forming a consolidation range around the central line of the price Envelope at 1.3500. A drop to its lower boundary at 1.3434 is possible. Later, a wave of growth back to the central line at 1.3518 may begin.

Technical indicators for today’s GBPUSD forecast suggest a decline to 1.3434.

AUDUSD forecast

On the H4 chart, AUDUSD continues to develop a downward wave towards 0.6444. Today, 16 June 2025, the forecast expects this target to be reached and a subsequent correction to 0.6494. Afterwards, a new downward wave to 0.6363 may unfold.

This outlook is confirmed by the Elliott wave structure and the decline matrix pivoting at 0.6494, which is key in this wave. The market is forming a wave structure towards the lower boundary of the price Envelope at 0.6444. Once this level is reached, a correction to the central line at 0.6494 may begin.

Technical indicators for today’s AUDUSD forecast suggest a continued decline towards 0.6444.

USDCAD forecast

On the H4 chart, USDCAD is consolidating around 1.3640. Today, 16 June 2025, the forecast considers a possible downward expansion to 1.3555. Afterwards, the outlook anticipates a growth wave towards 1.3728.

This scenario is supported by the Elliott wave structure and the decline matrix with a pivot at 1.3728, key in the current wave. The market recently completed a wave to the lower boundary of the price Envelope at 1.3565. A slight update to current lows at 1.3555 is possible, followed by growth to the upper boundary at 1.3728.

Technical indicators for today’s USDCAD forecast suggest a potential upward wave to 1.3728.

XAUUSD forecast

On the H4 chart, XAUUSD reached the 3,450 mark. Today, 16 June 2025, a decline towards 3,355 is expected, with a possible continuation of the trend towards 3,255, the first target.

This scenario is backed by the Elliott wave structure and growth wave matrix with a pivot at 3,275, which is considered crucial in the XAUUSD structure. The market has completed the fifth wave structure to the upper boundary of the price Envelope at 3,450. Today, a decline to the central line at 3,354 is expected, with a further move to the lower boundary at 3,275.

Technical indicators for today’s XAUUSD forecast suggest a continued decline to 3,275.

Brent forecast

On the H4 chart, Brent crude reached 76.16, followed by a correction to 71.50. Today, 16 June 2025, the forecast expects a rise to 76.96 as the local target. Afterwards, a correction towards 67.87 may unfold.

This scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot at 67.87, seen as key in Brent’s current wave. The market is developing a wave structure towards the upper boundary of the price Envelope at 76.96. Later, a correction towards the central line at 67.87 is possible.

Technical indicators for today’s Brent forecast suggest a rise to 76.96.