EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 17 April 2025

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

EURUSD forecast

On the H4 chart of EURUSD, the market completed a correction wave to 1.1411, forming a broad consolidation range in the shape of a Triangle. Today, 17 April 2025, a decline to 1.1298 is expected. Afterwards, a further rise to 1.1373 may follow. Once these structures are in place, a breakout from the Triangle to the downside may lead the price towards 1.1250.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot at 1.1190, which serves as the key level in this wave. The market previously moved to the upper boundary of the price Envelope at 1.1468. A consolidation pattern in the form of a Triangle is forming, with a possible decline to the central line at 1.1250.

Technical indicators for today’s EURUSD forecast suggest continued movement towards 1.1250.

USDJPY forecast

On the H4 chart of USDJPY, the market broke out of the consolidation range downward and reached the third wave target at 141.66. Today, 17 April 2025, an upward wave towards 145.00 is possible, with further potential growth to 146.00. After that, a new downward wave towards 141.00 may develop as the main target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot at 146.00, which acts as a key level in the current wave. The market completed the third wave towards the lower boundary of the price Envelope at 141.66. A short-term rise to the central line at 145.00 is likely, with a possible continuation to the upper boundary at 146.00 before the price resumes its decline to 141.00.

Technical indicators for today’s USDJPY forecast suggest a growth wave to 146.00.

GBPUSD forecast

On the H4 chart of GBPUSD, the market reached 1.3290. Today, 17 April 2025, a first downward impulse to 1.3165 is expected. A correction to 1.3222 may follow. Afterwards, a further decline towards 1.2990 could begin.

Technically, the Elliott wave structure and the growth wave matrix with a pivot at 1.2990 support this scenario. This level acts as a key one within the current wave. The price recently reached the upper boundary of the price Envelope at 1.3290. A move towards the central line at 1.2990 remains relevant.

Technical indicators for today’s GBPUSD forecast suggest the beginning of a downward wave to 1.3165.

AUDUSD forecast

On the H4 chart of AUDUSD, the market is forming a consolidation range around 0.6356. Today, 17 April 2025, if the price breaks downwards, a decline to 0.6150 may follow – the first target.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot at 0.6150, which is the key level in the current wave structure. The market had previously reached the upper boundary of the price Envelope at 0.6384. A move towards the central line at 0.6150 remains possible.

Technical indicators for today’s AUDUSD forecast suggest a potential downward wave to 0.6150.

USDCAD forecast

On the H4 chart of USDCAD, the market continues to develop a growth wave towards 1.4000 – the first target. Today, 17 April 2025, this target may be reached. After that, a decline to 1.3915 may begin.

Technically, the Elliott wave structure and the downward wave matrix with a pivot at 1.4075 confirm this scenario. This level acts as the key in the current structure. The market had previously reached the lower boundary of the price Envelope at 1.3830. A rise towards the central line at 1.4000 is now expected.

Technical indicators for today’s USDCAD forecast suggest a rise to 1.4000.

XAUUSD forecast

On the H4 chart of XAUUSD, the market continues to stretch the growth wave. Today, 17 April 2025, the price may extend to 3,366. Afterwards, a downward wave to 3,280 could begin, followed by a possible new growth leg to 3,383.

Technically, the Elliott wave structure and the growth wave matrix with a pivot at 3,174 confirm this scenario. This level is considered key in the current wave. The price is currently forming a wave towards the upper boundary of the price Envelope at 3,366. Once this target is reached, a move to the central line at 3,280 is likely.

Technical indicators for today’s XAUUSD forecast suggest a rise to 3,366.

Brent forecast

On the H4 chart of Brent crude, the market completed a growth wave to 65.55. Today, 17 April 2025, a consolidation range is forming around this level. An upward breakout could open the way for a rise to 67.00. A downward breakout may initiate a correction to 62.62. Later, the price may rise to 69.20 – a local target.

Technically, the Elliott wave structure and the downward wave matrix with a pivot at 67.00 support this scenario. This level is key within the current wave for Brent. A rise to the upper boundary of the price Envelope at 67.00 is relevant, followed by a correction to the lower boundary at 62.62.

Technical indicators in today’s Brent forecast suggest a rise to 67.00.