EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 7 April 2025

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

EURUSD forecast

On the H4 chart of EURUSD, the market reached the local downside target at 1.0877 and corrected to 1.1000. Today, 7 April 2025, another downward wave towards the first target of 1.0850 is likely. After reaching this level, a corrective wave towards the second target of 1.1000 is possible.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the decline wave matrix with a pivot at 1.1000, which is seen as key in this wave structure for EURUSD. The market has completed a downward wave to the central line of the price Envelope at 1.0877 and a growth wave to its upper boundary at 1.1000. Today, the price could decline to its lower boundary at 1.0850.

Technical indicators for today's EURUSD forecast suggest a potential decline to 1.0850.

USDJPY forecast

On the H4 chart of USDJPY, the market is forming a consolidation range around 145.70. Today, 7 April 2025, a corrective wave towards 147.50 (testing from below) is possible. Subsequently, the price could fall to 143.80, the first target. After reaching this level, a correction to 147.50 may follow.

Technically, this scenario is confirmed by the Elliott wave structure and the decline wave matrix with a pivot at 147.50, which is considered key. The market completed a wave to the lower boundary of the price Envelope at 144.56. Today, a correction to the central line at 147.50 is possible, followed by another downward wave to its lower boundary at 143.83.

Technical indicators for today's USDJPY forecast suggest a corrective wave towards 147.50.

GBPUSD forecast

On the H4 chart of GBPUSD, the market completed a downward wave to 1.2825. Today, 7 April 2025, a correction towards 1.3035 (testing from below) is likely. After this correction, a new downward wave towards the local target of 1.2620 is possible. Once reached, a correction to 1.2825 is expected.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot at 1.3035, which is considered crucial in this wave. The market reached the lower boundary of the price Envelope at 1.2825. A rise to the central line at 1.3035 is expected next.

Technical indicators for today's GBPUSD forecast suggest a corrective wave to 1.3035.

AUDUSD forecast

On the H4 chart of AUDUSD, the market broke below 0.6136 and continued the wave to 0.5928. Today, 7 April 2025, a pullback to 0.6136 is possible, followed by a decline to 0.5895, the local target. After reaching this level, the price could correct towards 0.6136.

Technically, this scenario is confirmed by the Elliott wave structure and the decline wave matrix with a pivot at 0.6136, which is crucial in this wave structure. The market is forming a downward wave to the lower boundary of the price Envelope at 0.5895.

Technical indicators for today's AUDUSD forecast suggest a further decline to 0.5895.

USDCAD forecast

On the H4 chart of USDCAD, the market completed a downward wave to 1.4026. Today, 7 April 2025, a technical pullback to 1.4282 (testing from below) is possible. After that, we expect a continuation of the downward wave to 1.3787, the local target.

Technically, this scenario is confirmed by the Elliott wave structure and the decline wave matrix with a pivot at 1.4144, which is crucial for USDCAD in this wave structure. The market reached the lower boundary of the price Envelope at 1.4026. A rise to the central line at 1.4282 may follow.

Technical indicators for today's USDCAD forecast suggest a rise to 1.4282.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 3,050 and completed a wave to 2,971, followed by a correction to 3,050 (retest from below). Today, 7 April 2025, a downward wave could develop towards 2,963, the local target. After reaching this level, another correction wave to 3,050 may follow.

Technically, this scenario is confirmed by the Elliott wave structure and the decline wave matrix with a pivot at 3,050. This level is seen as crucial for XAUUSD in this wave. The market reached the lower boundary of the price Envelope at 2,971 and corrected to the central line at 3,050. Today, a decline to the lower boundary at 2,963 is expected.

Technical indicators for today's XAUUSD forecast point to a possible decline to 2,963.

Brent forecast

On the H4 chart of Brent crude, the market completed a downward wave to 62.77. Today, 7 April 2025, the price could rise to 66.96 before declining to 58.88. After reaching this level, a new growth wave to 67.00 is anticipated.

Technically, this scenario is confirmed by the Elliott wave structure and the decline wave matrix with a pivot at 71.10. This is considered key for Brent. The market continues its downward wave to the lower boundary of the price Envelope at 58.88. Afterwards, growth towards the upper boundary at 67.00 is possible.

Technical indicators for today's Brent forecast suggest a decline to 58.88.