EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 8 April 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 8 April 2025.

EURUSD forecast

On the H4 chart of EURUSD, the market completed a corrective wave to 1.1049 and a downward wave to 1.0900. Today, 8 April 2025, a consolidation range around 1.0950 may form. A downward breakout could open the way for a wave to 1.0850, the first target. After reaching it, a corrective wave towards 1.1000 is possible – the second target.

Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 1.1000 support this scenario. This level acts as a key point within the current structure for EURUSD. At the moment, the market has reached the central line of the price Envelope at 1.0900. Today, a further drop towards the lower boundary at 1.0850 is possible.

Technical indicators for today's EURUSD forecast suggest the wave may continue down to 1.0850.

USDJPY forecast

On the H4 chart of USDJPY, the market completed a correction to 148.00. Today, 8 April 2025, the price may decline towards 143.83, the first target. After reaching it, a correction to 147.50 may follow.

Technically, the Elliott wave structure and the downward wave matrix with a pivot point at 147.50 support this scenario. It acts as a key level in the current wave structure. The market recently tested the central line of the price Envelope at 148.00. Today, another downward wave towards its lower boundary at 143.83 appears likely.

Technical indicators for today's USDJPY forecast suggest a downward movement to 143.83.

GBPUSD forecast

On the H4 chart of GBPUSD, the market broke through 1.2825 and moved down to 1.2708. Today, 8 April 2025, a correctional rise to test 1.2825 from below may occur. Once this correction ends, another downward wave to 1.2660 may follow, with potential continuation towards 1.2446.

Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot at 1.2825. It is considered a key level in the current wave. The market has reached the lower boundary of the price Envelope at 1.2708. Subsequently, a rise towards its central line at 1.2930 is expected.

Technical indicators for today's GBPUSD forecast suggest a corrective wave to 1.2825.

AUDUSD forecast

On the H4 chart of AUDUSD, the market is forming a consolidation range around 0.6030. Today, 8 April 2025, a rise to 0.6136 is possible, followed by a drop to the local target of 0.5895. Once the price hits this level, a corrective wave back to 0.6136 might follow.

Technically, the Elliott wave structure and the downward wave matrix with a pivot at 0.6136 support this scenario. This level is seen as key within the current structure. At the moment, the market is consolidating above the lower boundary of the price Envelope. A growth wave to its central line at 0.6136 is expected, followed by a decline to its lower boundary at 0.5895.

Technical indicators for today's AUDUSD forecast suggest the wave may continue down to 0.5895.

USDCAD forecast

On the H4 chart of USDCAD, the market completed a corrective wave to 1.4280. Today, 8 April 2025, a further decline to 1.3983 is expected, with a possible continuation of the trend to the local target of 1.3787.

Technically, the Elliott wave structure and the downward wave matrix with a pivot at 1.4144 confirm this scenario. This level acts as a key point in the current wave structure. Currently, the market is forming a consolidation range around the central line of the price Envelope at 1.4144. A fall to its lower boundary at 1.3983 is likely.

Technical indicators for today's USDCAD forecast suggest a decline to 1.3983.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a downward wave to the local target of 2,956. Today, 8 April 2025, a correction to 3,050 may follow. Once the correction ends, another downward wave to 2,933 is possible.

Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot at 3,050. This level acts as a key point for XAUUSD in this wave. At the moment, the market has moved to the lower boundary of the price Envelope at 2,956. Today, a corrective wave to the central line at 3,050 appears likely.

Technical indicators for today's XAUUSD forecast suggest a correction to 3,050.

Brent forecast

On the H4 chart of Brent crude oil, the market completed a corrective wave to 66.96. Today, 8 April 2025, a consolidation range around 65.00 may develop. A breakout upwards could trigger a growth wave towards 75.10. A downward breakout might expand the range to 61.16.

Technically, the Elliott wave structure and the downward wave matrix with a pivot at 71.10 support this scenario. This level is seen as key for Brent. Currently, the market continues forming a wave towards the lower boundary of the price Envelope at 61.16. A subsequent growth wave to the upper boundary at 67.00 could follow.

Technical indicators in today’s Brent forecast suggest a downward move to 61.16.