EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 29 April 2025
Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 29 April 2025.
EURUSD forecast
On the H4 chart, EURUSD continues to develop a consolidation range around 1.1360. Today, 29 April 2025, the range may expand towards 1.1455. Afterwards, a downward wave towards 1.1280 is likely, followed by a potential continuation of the trend to 1.1110, the local target.
Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot at 1.1420, which is key in this wave structure. The market is forming a wave towards the lower boundary of the price Envelope at 1.1280.
Technical indicators for today’s EURUSD forecast suggest a decline towards 1.1280.
USDJPY forecast
On the H4 chart, USDJPY is forming a corrective move towards 141.70. Today, 29 April 2025, the correction may end, and a new growth wave to 144.00 may begin. If this level breaks upwards, the wave could extend to 146.40, the local target.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot at 141.70. This level is considered crucial in the current wave. The market is correcting towards the central line of the price Envelope at 141.70, with growth towards its upper boundary at 144.00 likely.
Technical indicators for today’s USDJPY forecast suggest a growth wave to 144.00 and 146.40.
GBPUSD forecast
On the H4 chart, GBPUSD continues to form a consolidation range around 1.3343. Today, 29 April 2025, a rise to 1.3455 may occur, followed by a downward move to 1.3250, the first target. Then, a correction to 1.3343 is possible, followed by another wave down to 1.3080, the local target.
Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot at 1.3343, which acts as the key level. The market is currently consolidating around the central line of the price Envelope at 1.3343. The price could rise to its upper boundary at 1.3455 before declining to the lower boundary at 1.3250. Subsequently, a correction towards the central line at 1.3300 could follow.
Technical indicators for today’s GBPUSD forecast suggest a downward wave to 1.3250.
AUDUSD forecast
On the H4 chart, AUDUSD continues to develop a consolidation range around 0.6400 with no clear trend. Today, 29 April 2025, the range may expand upwards to 0.6467. Afterwards, a breakout to the downside may push the price to 0.6330, the first target. A correction to 0.6388 (testing from below) may follow, then a move to 0.6250, the local target.
Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot at 0.6161, which is considered crucial for the current wave. The price is forming a structure towards the upper boundary of the price Envelope at 0.6467. A move to the central line at 0.6330 may follow.
Technical indicators for today’s AUDUSD forecast suggest a continuation of the decline to 0.6330.
USDCAD forecast
On the H4 chart, USDCAD is forming a corrective move to 1.3808. Today, 29 April 2025, this correction may complete, and a new upward wave to 1.3930 may develop, with potential for continuation to 1.4050, a local target.
Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot at 1.4080, which is key in this wave. The market completed a wave to the central line of the price Envelope at 1.3903 and corrected towards 1.3808. Once the correction is complete, a move to the upper boundary at 1.3930 is likely to follow.
Technical indicators for today’s USDCAD forecast suggest a growth wave to 1.3930.
XAUUSD forecast
On the H4 chart, XAUUSD continues to develop a consolidation range around 3,311. Today, 29 April 2025, the range may extend upwards to 3,365. Afterwards, a downward wave to the first target of 3,232 is likely. Then, a rebound to 3,365 (testing from below) may occur.
Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix with a pivot at 3,365, which is key in this wave structure. The market is forming a wave towards the lower boundary of the price Envelope at 3,232. After reaching this level, the price could rise to the central line at 3,365.
Technical indicators for today’s XAUUSD forecast suggest a decline to 3,232.
Brent forecast
On the H4 chart, Brent continues to develop a wide consolidation range around 65.30. The market recently extended the range upwards to 67.70 and downwards to 64.40. Today, 29 April 2025, a decline to 63.00 is possible, viewed as a correction to the previous growth wave. If the price breaks upwards from the range, a continuation towards 68.75 may occur, with potential extension to 71.50 — the local target.
Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot at 65.30, which is crucial for this wave. The market is forming a corrective wave towards the lower boundary of the price Envelope at 63.00. After reaching this level, a move towards the upper boundary at 65.30 may follow.
Technical indicators for today’s Brent forecast suggest a further correction towards 63.00.
