Daily technical analysis and forecast for 16 October 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 16 October 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market formed a consolidation range around 1.1600 and, breaking upwards, continued the correction towards 1.1670. On 16 October 2025, a decline towards 1.1600 (testing from above) is expected. Afterwards, a rise to 1.1679 cannot be ruled out. Once this correction ends, a new downward wave towards 1.1500 is anticipated as a local trend target.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish wave matrix with a pivot point at 1.1640, which is considered key in the EURUSD wave structure. A continuation of the correction towards the upper boundary of the Price Envelope at 1.1679 is expected, followed by a downward wave towards its lower boundary at 1.1500.
Technical indicators for today’s EURUSD forecast suggest the correction may complete near 1.1679, followed by a downward wave towards at least 1.1500.
USDJPY forecast
On the H4 chart of USDJPY, the market continues the decline towards 150.40 as a local target. On 16 October 2025, the pair is expected to reach this level before rising to 151.50 (testing from below). After that, a further decline towards 149.75 is possible, which remains the main target of the corrective wave. A subsequent rise towards 154.10 is then anticipated.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish wave matrix with a pivot point at 149.75, the key level in this wave. The market continues the correction towards the lower boundary of the Price Envelope at 149.75. Once the correction is complete, a new upward wave towards the upper boundary at 154.10 is expected.
Technical indicators for today’s USDJPY forecast suggest further correction towards 150.40 and 149.75.
GBPUSD forecast
On the H4 chart of GBPUSD, the market formed a consolidation range around 1.3343 and, breaking upwards, reached the correction target at 1.3434. On 16 October 2025, a decline towards 1.3343 is expected. A breakout below this level would open the potential for a continuation of the trend towards 1.3125 as a local target.
Technically, this scenario is confirmed by the Elliott Wave structure and the bearish wave matrix with a pivot point at 1.3310, the key level in this wave. A consolidation range is forming below the central line of the Price Envelope. A new downward wave towards the lower boundary at 1.3230 is expected, with potential continuation of the trend to 1.3125.
Technical indicators for today’s GBPUSD forecast suggest the start of a downward wave towards 1.3230 and 1.3125.
AUDUSD forecast
On the H4 chart of AUDUSD, the correction wave completed near 0.6520. On 16 October 2025, the downward wave is expected to continue towards 0.6431, with a possible extension to 0.6410 as a local target. Afterwards, a corrective move towards 0.6520 could follow before the trend resumes towards 0.6340 as the first target.
Technically, this scenario is supported by the Elliott Wave structure and the bearish wave matrix with a pivot point at 0.6520, the key level in this wave. The market continues its descent towards the lower boundary of the Price Envelope at 0.6410. Subsequently, a short-term correction to 0.6520 may occur, followed by another downward move to 0.6340.
Technical indicators for today’s AUDUSD forecast suggest a downward wave towards 0.6410.
USDCAD forecast
On the H4 chart of USDCAD, the market continues to form a consolidation range around 1.4030 without a clear trend. On 16 October 2025, a breakout downwards would signal a correction towards 1.3940, while a breakout upwards would open the potential for the third growth wave towards 1.4160. After reaching that level, a correction back to 1.3940 would be relevant.
Technically, this scenario is confirmed by the Elliott Wave structure and the bullish wave matrix with a pivot point at 1.3940, considered key for this USDCAD wave. The market is developing an upward structure towards the upper boundary of the Price Envelope at 1.4160. The price could reach this target level today before undergoing a correction towards the central line at 1.3940 (testing from above) and then rising towards 1.4330.
Technical indicators for today’s USDCAD forecast suggest further growth towards 1.4080 and 1.4160.
XAUUSD forecast
On the H4 chart of XAUUSD, the market completed an upward move to 4,242. On 16 October 2025, a corrective wave towards 4,190 is possible. Once this correction is complete, a new rise towards 4,266 is expected. A consolidation range may form around 4,190. A breakout upwards would open the potential for a continued move towards 4,300, while a downward breakout could trigger a correction to 3,950.
Technically, this scenario is supported by the Elliott Wave structure and the bullish wave matrix with a pivot point at 3,660, the key level in this XAUUSD wave. The market is developing an upward structure towards the upper boundary of the Price Envelope at 4,266, followed by a correction towards the lower boundary at 4,060.
Technical indicators for today’s XAUUSD forecast point to continued upward momentum towards 4,266.
Brent forecast
On the H4 chart of Brent crude, the market is consolidating around 62.00 without a clear trend. On 16 October 2025, a rise towards 63.63 (testing from below) is possible. A wider consolidation range continues to form around 63.63. A breakout upwards would open the potential for a move to 67.00, while a downward breakout would indicate continuation of the trend to 61.10, with an extension possible to 60.00.
Technically, this scenario is supported by the Elliott Wave structure and the bearish wave matrix with a pivot point at 63.63, the key level for Brent in this wave. The market has already moved to the lower boundary of the Price Envelope at 61.30. A correction towards its upper boundary at 63.63 remains likely, followed by a decline towards the lower boundary at 61.10.
Technical indicators for today’s Brent forecast suggest a potential decline towards 61.10.
