Daily technical analysis and forecast for 1 August 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 1 August 2025.
EURUSD forecast
On the H4 chart of EURUSD, the market continues to develop a compact consolidation range around 1.1420. Today, 1 August 2025, this range is expected to expand down to 1.1387 and up to 1.1421. A correction to 1.1487 is also possible. Afterwards, a downward wave to 1.1185 is likely. This is a local target.
Technically, the Elliott wave structure and the matrix of the downward wave with a pivot point at 1.1487 confirm this scenario. This level is seen as key in the EURUSD wave structure. The market is currently forming a downward wave to the lower boundary of the price Envelope at 1.1185. Once this level is reached, a rebound to the central line at 1.1487 is possible.
Technical indicators for today’s EURUSD forecast suggest a downward wave towards 1.1185.
USDJPY forecast
On the H4 chart of USDJPY, the market formed a consolidation range around 148.62 and broke out upwards. Today, 1 August 2025, a growth leg towards 151.45 is possible. Later, the price is expected to correct back to 148.62 (testing from above), followed by a rise to 153.40.
Technically, the Elliott wave structure and the matrix of the growth wave with a rotation centre at 148.62 confirm this scenario. This level is considered key in this wave. The market completed a growth wave to the upper boundary of the Price Envelope at 151.45. A decline to the central line at 148.62 is not excluded, followed by a move up to the upper boundary at 153.40.
Technical indicators for today’s USDJPY forecast suggest a rise to 151.45.
GBPUSD forecast
On the H4 chart of GBPUSD, the market continues a downward wave towards 1.3155 as a local target. Today, 1 August 2025, this target level may be reached. Afterwards, a correction to 1.3370 (testing from below) is likely, followed by a decline to 1.2950.
Technically, the Elliott wave structure and the matrix of the downward wave with a pivot point at 1.3370 confirm this scenario. This level remains key in the wave structure. The market is currently forming a downward wave to the lower boundary of the price Envelope at 1.3155. Later, a correction to the central line at 1.3370 is possible.
Technical indicators for today’s GBPUSD forecast suggest a decline towards 1.3152.
AUDUSD forecast
On the H4 chart of AUDUSD, the market continues to develop a consolidation range around 0.6444. Today, 1 August 2025, an upward breakout would open the way for a correction to 0.6555. If it breaks downwards, the downward wave may continue to 0.6408 as the first target.
Technically, the Elliott wave structure and the matrix of the AUDUSD downward wave with a pivot point at 0.6515 confirm this scenario. This level is viewed as key in this wave structure. The market is currently forming a downward wave to the lower boundary of the price Envelope at 0.6408. Afterwards, a rise to the central line at 0.6515 is possible, followed by a continued decline to the lower boundary at 0.6400.
Technical indicators for today’s AUDUSD forecast suggest a decline to 0.6408.
USDCAD forecast
On the H4 chart of USDCAD, the market formed a consolidation range around 1.3747 and broke out upwards. Today, 1 August 2025, a continued upward wave towards 1.3920 is expected. Later, a pullback to 1.3750 (testing from above) is possible.
Technically, the Elliott wave structure and the matrix of the growth wave with a pivot point at 1.3750 confirm this scenario. This level is considered key in the wave structure of USDCAD. The market formed a consolidation range around the central line of the price Envelope at 1.3750 and broke upwards. Today, the scenario of growth towards the upper boundary at 1.3920 remains relevant.
Technical indicators for today’s USDCAD forecast suggest a move up to 1.3920.
XAUUSD forecast
On the H4 chart of XAUUSD, the market is forming a consolidation range around 3,300. The range currently extends down to 3,268 and up to 3,314. Today, 1 August 2025, a decline to 3,247 is possible. This is a local target.
Technically, the Elliott wave structure and the matrix of the downward wave with a pivot point at 3,345 confirm this scenario. This level is viewed as key in the wave structure of XAUUSD. The market is executing a downward wave to the lower boundary of the price Envelope at 3,247. Afterwards, a rise to the central line at 3,345 is possible, followed by a decline to the lower boundary at 3,150.
Technical indicators for today’s XAUUSD forecast point to a downward wave towards 3,247.
Brent forecast
On the H4 chart of Brent crude, the market is forming a consolidation range around 71.75. Today, 1 August 2025, a downward breakout may lead to a correction to 70.00. If the price breaks upwards, the wave may continue to 73.33 with the potential to extend the trend to 76.00 as a local target.
Technically, the Elliott wave structure and the matrix of the growth wave with a pivot point at 71.80 confirm this scenario. This level remains key in the current wave of Brent. The market is forming a consolidation range around the central line of the price Envelope at 71.80. A short-term decline to 70.00 is not excluded, followed by a rise to the upper boundary at 73.33. Later, a pullback to the central line at 70.80 is possible.
Technical indicators for today’s Brent forecast suggest the continuation of the growth wave towards 73.33 and 76.00.
