Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 3 February 2025.
On the H4 chart, EURUSD completed a corrective wave to 1.0430 and initiated a new downward wave. On 3 February 2025, the market continues declining towards 1.0220 as the local target. After reaching this level, a correction to 1.0300 is possible before further decline towards 1.0150.
Technically, this scenario aligns with the Elliott Wave structure and the downward wave matrix centred at 1.0350, which is key for EURUSD. The market is moving towards the lower boundary of the price Envelope at 1.0220. A potential pullback to its central line at 1.0300 is expected before further decline.
Technical indicators for today’s EURUSD forecast suggest potential declines to 1.0220 and 1.0150.
On the H4 chart, USDJPY has formed a narrow consolidation range around 154.70. If the market breaks downwards, further decline towards 153.41 and 153.02 is expected. If an upward breakout occurs, a rise towards 155.66 is likely, followed by a new downward wave towards 153.00.
Technically, this scenario aligns with the Elliott Wave structure and the growth wave matrix centred at 155.66. The market is consolidating around 154.70, and a breakout upwards may push it towards the central line of the price Envelope at 155.66.
Technical indicators for today’s USDJPY forecast suggest potential growth to 155.66.
On the H4 chart, GBPUSD corrected to 1.2470 and started a new downward wave. On 3 February 2025, the market is expected to decline to 1.2330, where a consolidation range may form. A breakdown below this level would open the way for further declines to 1.2180 and 1.2144.
Technically, this scenario aligns with the Elliott Wave structure and the downward wave matrix centred at 1.2330. The market is consolidating around the central line of the price Envelope. A downward breakout could push the price towards the lower boundary at 1.2144.
Technical indicators for today’s GBPUSD forecast suggest potential declines to 1.2180 and 1.2144.
On the H4 chart, AUDUSD corrected to 0.6261 and resumed its downward wave. On 3 February 2025, the market is expected to decline to 0.6143, where a consolidation range may form. If the price breaks upwards, a correction towards 0.6200 is possible, while a downward breakout could lead to further declines towards 0.6077.
Technically, this scenario aligns with the Elliott Wave structure and the downward wave matrix centred at 0.6200. The market is moving towards the lower boundary of the price Envelope at 0.6143. A potential rebound towards its central line at 0.6200 is possible before further declines.
Technical indicators for today’s AUDUSD forecast suggest potential declines to 0.6143 and 0.6077.
On the H4 chart, USDCAD corrected to 1.4376 and began developing a wave of growth towards 1.4808. On 3 February 2025, the market is expected to break 1.4590 and continue rising towards 1.4808 as the local target. After reaching this level, a correction to 1.4600 is possible before a further upward move towards 1.4919.
Technically, this scenario aligns with the Elliott Wave structure and the growth wave matrix centred at 1.4590, which is key for USDCAD. The market is advancing towards the upper boundary of the price Envelope at 1.4808. A pullback to 1.4600 may follow before further gains.
Technical indicators for today’s USDCAD forecast suggest potential growth to 1.4808 and 1.4919.
On the H4 chart, XAUUSD completed a growth wave to 2818 and declined to 2797. On 3 February 2025, a narrow consolidation range is expected around this level. A downward breakout could lead to a correction to 2772, while an upward breakout would open the way for growth towards 2858 and 2890.
Technically, this scenario aligns with the Elliott Wave structure and the growth wave matrix centred at 2730, which is key for XAUUSD. The market completed a growth wave to the upper boundary of the price Envelope at 2818. A pullback to 2772 is possible before another upward move towards 2858.
Technical indicators for today’s XAUUSD forecast suggest potential growth to 2858.
On the H4 chart, Brent crude is consolidating around 75.66. On 3 February 2025, a continued upward move towards 76.70 is expected. If this level is broken upwards, further growth towards 78.15 and 78.38 is likely.
Technically, this scenario aligns with the Elliott Wave structure and the growth wave matrix centred at 76.70, which is key for Brent. The market has declined to the lower boundary of the price Envelope at 74.90, and consolidation has formed above this level. A breakout upwards may push the price towards the central line at 76.70, with further movement towards 78.38.
Technical indicators for today’s Brent forecast suggest potential growth to 76.70 and 78.38.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.