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

EURUSD forecast

On the H4 chart, EURUSD completed a growth wave to 1.0510. Currently, a consolidation range is forming below this level. Today, 17 February 2025, a downward breakout is expected, leading to an initial decline towards 1.0417. Later, a new growth wave towards 1.0465 is possible. After reaching this level, a further decline towards 1.0375 is likely, with a potential continuation towards 1.0326.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.0380, considered a key level for EURUSD. Currently, the market has reached the upper boundary of the price Envelope at 1.0510. A downward move towards the central line at 1.0417 is expected.

Technical indicators for today's EURUSD forecast suggest the probability of a decline towards 1.0417.

USDJPY forecast

On the H4 chart, USDJPY completed a decline to 152.50. Today, 17 February 2025, a consolidation range formed around this level, followed by a downward breakout. A further decline towards 150.22 is expected. After reaching this level, a corrective move towards 153.45 is possible. Later, another downward wave towards 148.11 may develop.

Technically, this scenario for USDJPY is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 152.50. Currently, the market is continuing its decline towards the lower boundary of the price Envelope at 150.22. After reaching this level, a growth wave towards the upper boundary at 153.45 is expected.

Technical indicators for today's USDJPY forecast suggest the probability of a decline towards 150.22.

GBPUSD forecast

On the H4 chart, GBPUSD is consolidating below 1.2626. Today, 17 February 2025, a downward breakout is expected, leading to an initial decline towards 1.2474. After reaching this level, a growth wave towards 1.2555 is possible. Later, a further decline towards 1.2444 may develop, with a potential continuation towards 1.2342.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2474. Currently, the market has completed a growth wave towards the upper boundary of the price Envelope at 1.2626. A downward move towards the central line at 1.2474 is expected.

Technical indicators for today's GBPUSD forecast suggest the probability of a correction towards 1.2474.

AUDUSD forecast

On the H4 chart, AUDUSD completed a growth wave to 0.6370. Today, 17 February 2025, a consolidation range is forming around this level. A downward breakout could lead to a decline towards 0.6282. After reaching this level, a growth wave towards 0.6330 is expected. Later, another decline towards 0.6250 may develop, with a potential continuation towards 0.6200.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix for AUDUSD, with a pivot point at 0.6276. Currently, the market has broken out of the consolidation range upwards, reaching the upper boundary of the price Envelope at 0.6370. A downward move towards the lower boundary at 0.6200 is expected.

Technical indicators for today's AUDUSD forecast suggest the probability of a decline towards 0.6200.

USDCAD forecast

On the H4 chart, USDCAD completed a decline to 1.4150. Today, 17 February 2025, a consolidation range is forming around this level. An upward breakout could initiate a growth wave towards 1.4488. A downward breakout may extend the decline towards 1.3990.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.4383, considered a key level for USDCAD in this wave structure. Currently, the market has declined towards the lower boundary of the price Envelope at 1.4150. A subsequent growth wave towards the upper boundary at 1.4488 is expected.

Technical indicators for today's USDCAD forecast suggest the probability of a rise towards 1.4488.

XAUUSD forecast

On the H4 chart, XAUUSD is consolidating around 2920. Today, 17 February 2025, a decline towards 2868 is possible. Later, a growth wave towards 2960 is expected. After reaching this level, a correction towards 2844 may follow. Later, another growth wave towards 3030 may develop.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 2844, considered a key level for XAUUSD in this wave. Currently, the market is forming a growth wave structure towards the upper boundary of the price Envelope at 2960. After reaching this level, a correction towards the lower boundary at 2844 is expected.

Technical indicators for today's XAUUSD forecast suggest the probability of growth towards 2960.

Brent forecast

On the H4 chart, Brent completed a decline to 74.33. Today, 17 February 2025, a consolidation range is forming around this level. A downward breakout may lead to a further decline towards 73.11. After reaching this level, a growth wave towards 77.44 is expected as the first target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 74.33, considered a key level for Brent. Currently, the market is consolidating around the central line of the price Envelope. A downward breakout towards the lower boundary at 73.11 is expected, followed by a growth wave towards the upper boundary at 77.44.

Technical indicators for today's Brent forecast suggest the probability of a decline towards 73.11.