Daily technical analysis and forecast for 17 July 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 17 July 2025.

EURUSD forecast

On the H4 chart of EURUSD, the market completed a downward wave to 1.1562, followed by a correction to 1.1720. Today, 17 July 2025, the decline could continue to 1.1520 as the first target. Once this level is reached, a growth leg towards 1.1675 may begin as the second target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a rotation centre at 1.1675. This level is considered key in the current EURUSD wave structure. Today, the market continues to decline towards the lower boundary of the price Envelope at 1.1520. Afterwards, a growth wave towards its central line at 1.1675 is expected.

Technical indicators for today’s EURUSD forecast suggest a continuation of the downward wave towards 1.1520.

USDJPY forecast

On the H4 chart of USDJPY, the market completed a growth wave to 149.17, followed by a correction to 147.12. Today, 17 July 2025, a further growth wave towards 150.00 is possible. After reaching this level, a correction to 147.17 may follow.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 147.17. This level remains key in the current wave structure. At present, the market completed a wave towards the upper boundary of the price Envelope at 150.00. A downward move towards its central line at 147.17 may follow.

Technical indicators for today’s USDJPY forecast suggest a continuation of the growth wave towards 150.00.

GBPUSD forecast

On the H4 chart of GBPUSD, the market completed a downward wave to 1.3365, followed by a correction to 1.3484. Today, 17 July 2025, a further decline to 1.3295 is expected as the first target. Afterwards, a correction towards 1.3484 may begin.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.3484. This remains a key level in the GBPUSD wave structure. Currently, the market has completed a wave to the price Envelope’s lower boundary at 1.3365 and corrected to its central line at 1.3484. Today, a wave towards the lower boundary at 1.3295 is anticipated.

Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3295.

AUDUSD forecast

On the H4 chart of AUDUSD, the market formed a consolidation range around 0.6525 and broke downwards. This opened potential for a decline to 0.6454. Today, 17 July 2025, the market is expected to reach this target level. Afterwards, a correction towards 0.6525 may follow.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix for AUDUSD with a pivot point at 0.6525. This level is considered key in the current wave structure. Currently, the market is developing a downward wave towards the price Envelope’s lower boundary at 0.6454. A subsequent correction towards its central line at 0.6525 is possible.

Technical indicators for today’s AUDUSD forecast suggest a continuation of the downward wave towards 0.6454.

USDCAD forecast

On the H4 chart of USDCAD, the market continued its upward wave towards 1.3754 and corrected to 1.3685. Today, 17 July 2025, the next growth wave may develop towards 1.3812 with a further trend extension possible to 1.3944.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 1.3685. This level remains key for USDCAD’s wave structure. At present, the market continues forming a consolidation range around the price Envelope’s central line at 1.3685. Today, a growth move towards its upper boundary at 1.3812 remains possible.

Technical indicators for today’s USDCAD forecast suggest an upward movement towards 1.3812.

XAUUSD forecast

On the H4 chart of XAUUSD, the market continues forming a wide consolidation range around 3,344. Currently, it has extended this range down to 3,320 and up to 3,377. Today, 17 July 2025, a decline to 3,313 is possible. Afterwards, a growth leg towards 3,384 may follow. The market remains in a broad consolidation phase around 3,344 without a clear trend.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 3,344. This remains key in the current XAUUSD wave structure. Currently, the market is forming a wave structure towards the price Envelope’s lower boundary at 3,312. A growth wave towards its central line at 3,344 is expected afterwards.

Technical indicators for today’s XAUUSD forecast point to a continuation of the downward wave towards 3,312.

Brent forecast

On the H4 chart of Brent crude, the market continues forming a consolidation range around 69.30. Today, 17 July 2025, a growth leg towards the upper boundary of the range at 71.40 is possible. Afterwards, a correction back to 69.30 may follow. If the market breaks out upwards, a wave may develop towards 72.82. If it breaks downwards, the range may expand towards 66.90.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 69.30. This level remains key in Brent’s current wave structure. At present, the market is forming a consolidation range around the price Envelope’s central line at 69.30. A growth move towards the upper boundary at 71.40 is relevant, while a decline to the lower boundary at 66.90 cannot be ruled out.

Technical indicators for today’s Brent forecast suggest a continuation of the growth wave towards 71.40.