Daily technical analysis and forecast for 7 July 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 7 July 2025.

EURUSD forecast

On the H4 chart of EURUSD, the market completed a correction wave to 1.1788. Today, 7 July 2025, we expect a downward move towards 1.1696. Afterwards, a growth move to 1.1740 is possible, followed by a decline towards 1.1637 as the local target.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a rotation centre at 1.1430. This remains key within the EURUSD wave structure. Currently, the market has completed a downward wave to the Price Envelope’s central line at 1.1717 and a correction to 1.1788. Today, a downward move towards its lower boundary at 1.1696 is expected, followed by a possible correction back to its central line at 1.1740.

Technical indicators for today’s EURUSD forecast suggest considering a decline towards 1.1693.

USDJPY forecast

On the H4 chart of USDJPY, the market completed a correction wave to 144.20. Today, 7 July 2025, growth towards 145.33 is possible. Afterwards, a decline towards 143.77 is expected, with potential continuation towards 142.44.

Technically, this scenario for USDJPY is confirmed by the Elliott wave structure and the downward wave matrix with a rotation centre at 144.84. This remains key within this wave structure. Currently, the market is forming a correction structure within the downward wave. The target is the Price Envelope’s upper boundary at 145.33. Afterwards, further decline towards 143.73 is expected, with trend continuation towards its lower boundary at 142.44.

Technical indicators for today’s USDJPY forecast suggest considering continuation of the downward wave towards 143.77.

GBPUSD forecast

On the H4 chart of GBPUSD, the market completed a correction wave to 1.3677 and continues its downward move. Today, 7 July 2025, we expect a decline towards 1.3527. Upon reaching this level, a correction back to 1.3656 (testing from below) is possible. This would define a broad consolidation range around 1.3656. Breaking upwards out of this range would open potential for a trend continuation towards 1.3870. A break downwards would indicate continued correction towards 1.3460.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the growth wave matrix with a rotation centre at 1.3400. This remains key within this wave structure. Currently, the market has formed a consolidation range around the Price Envelope’s central line at 1.3656 and has broken downwards towards its lower boundary at 1.3527. Today, it is relevant to consider reaching this target level and beginning a growth wave back to its central line at 1.3656.

Technical indicators for today’s GBPUSD forecast suggest considering a decline towards 1.3528.

AUDUSD forecast

On the H4 chart of AUDUSD, the market completed a correction wave to 0.6577 and began a decline. Today, 7 July 2025, the market broke below 0.6536, opening potential for continuation of the wave towards 0.6484, with trend continuation possible towards 0.6460 as the local target.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a rotation centre at 0.6444. This remains key within this wave structure. Currently, the market has broken below 0.6536 and continues its downward move towards the Price Envelope’s lower boundary at 0.6484. Afterwards, a correction back to its central line at 0.6520 is not excluded, followed by a decline to 0.6460.

Technical indicators for today’s AUDUSD forecast suggest considering a decline towards 0.6484.

USDCAD forecast

On the H4 chart of USDCAD, the market is forming a correction structure towards 1.3640. Today, 7 July 2025, reaching this target level is expected. Afterwards, a new downward wave towards 1.3514 is possible as the local target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a rotation centre at 1.3640. This remains key within the USDCAD wave structure. Currently, the market continues developing its consolidation range around the Price Envelope’s central line at 1.3640. Today, a decline towards its lower boundary at 1.3514 is relevant, followed by growth back to its central line at 1.3585.

Technical indicators for today’s USDCAD forecast suggest considering a decline towards 1.3514.

XAUUSD forecast

On the H4 chart of XAUUSD, the market continues forming a consolidation range around 3344 without a clear trend. Today, 7 July 2025, if the market breaks upwards out of this range, continuation of the correction towards 3385 is possible. Afterwards, a downward wave towards 3250 is expected. A broader consolidation structure is forming around 3344.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a rotation centre at 3344. This remains key within this wave structure. Currently, the market has completed a downward wave to the Price Envelope’s lower boundary at 3249 and a correction back to its central line at 3344. Today, growth towards its upper boundary at 3385 is relevant, followed by a decline towards its lower boundary at 3233.

Technical indicators for today’s XAUUSD forecast indicate a possible growth wave towards 3385 and then a decline towards 3233.

Brent forecast

On the H4 chart of Brent crude, the market completed a growth wave to 68.92. Today, 7 July 2025, a correction to 67.00 has completed. The market has effectively defined a consolidation range around 67.00. Breaking this level downwards would indicate continuation of the wave towards 65.50. Breaking upwards out of this range would indicate a growth wave towards 71.00, with potential trend continuation towards 72.40.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a rotation centre at 70.00. This remains key within Brent’s wave structure. Currently, the market is forming a consolidation range around the Price Envelope’s central line at 67.00. It is relevant to consider growth towards its upper boundary at 72.40.

Technical indicators suggest today’s Brent forecast considers a possible growth wave towards 72.40.