EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 17 March 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 17 March 2025.

EURUSD forecast

On the H4 chart of EURUSD, the market continues the development of a consolidation range around the 1.0880 level. Today, 17 March 2025, we expect it to expand downwards to the 1.0800 level. Subsequently, we will consider the probability of a correction wave to 1.0874 (test from below). Then, we expect the downward wave to develop to 1.0735. If this level is breached, the potential for the first downward wave to 1.0660 will open. After reaching this level, we will consider the possibility of a correction to 1.0800.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.0660, which is considered key for the EURUSD pair. At the moment, the market is forming a downward structure towards the central line of the price Envelope at 1.0800. If this level is breached, the potential for a continuation of the wave towards the lower boundary of the Envelope at 1.0735 exists.

Technical indicators for today's EURUSD forecast are in a neutral state, with equal chances for either a continuation of the growth to 1.0962 or the development of a downward wave to 1.0660.

USDJPY forecast

On the H4 chart of USDJPY, the market has executed a growth wave to 149.18. Today, 17 March 2025, we expect the achievement of this level. If this level is breached upwards, the potential for the continuation of the growth wave to 150.40 opens, with the possibility of the trend continuing towards 151.80. The target is local. After reaching this, we do not rule out the beginning of a correction to 149.60.

Technically, this scenario for USDJPY is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 149.60. At the moment, the market is forming a growth structure towards the upper boundary of the price Envelope at 150.40. After this level is reached, a correction to the central line at 148.90 may occur. We will consider the potential for the trend to continue to the upper boundary of the Envelope at 151.80.

Technical indicators for today's USDJPY forecast suggest a growth wave to the 149.60 and 150.40 levels.

GBPUSD forecast

On the H4 chart of GBPUSD, the market continues to develop a consolidation range around 1.2950. It has temporarily expanded downward to 1.2921. Today, 17 March 2025, an upward expansion to 1.2988 cannot be ruled out. After that, a decline to 1.2950 (test from above) is likely. If the range breaks upwards, further growth toward 1.3050 is possible. If it breaks downward, a decline toward 1.2810 may develop.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2810. Currently, the market has completed a growth wave to the upper boundary of the price Envelope at 1.2984. A downward wave toward its lower boundary at 1.2810 is expected.

Technical indicators for today’s GBPUSD forecast suggest the beginning of a decline to 1.2810.

AUDUSD forecast

On the H4 chart of AUDUSD, the market continues to develop a consolidation range around 0.6300 without a clear trend. Today, 17 March 2025, the range has expanded upwards to 0.6333. In the future, a decline to 0.6286 is possible, with the trend potentially continuing to 0.6210.

Technically, this scenario is supported by the Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.6210. Currently, a consolidation range is forming around the central line of the price Envelope at 0.6300. The next downward wave towards the lower boundary at 0.6210 is expected.

Technical indicators for today’s AUDUSD forecast suggest a decline to 0.6210.

USDCAD forecast

On the H4 chart of USDCAD, the market continues to consolidate around 1.4415. Today, 17 March 2025, a correction to 1.4320 cannot be ruled out. After that, a new growth wave toward 1.4515 may begin. If this level is breached upwards, the wave may extend to 1.4814. This is a local target. After reaching it, a correction to 1.4520 (test from above) is expected.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 1.4400, which is key for USDCAD in this wave structure. Currently, the market is forming a consolidation pattern around the central line of the price Envelope at 1.4400. A correction to the lower boundary at 1.4320 may follow. After that, a new growth wave to the upper boundary at 1.4515 is possible.

Technical indicators for today’s USDCAD forecast suggest a correction to 1.4320.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a growth wave to 3,004, which is a local target. Today, 17 March 2025, a correction to 2,944 is expected. After that, a new growth wave toward 3,057 may develop.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 2,940. This level is considered key for XAUUSD in this wave. Currently, the market has completed a growth wave to the upper boundary of the price Envelope at 3,004. A downward correction toward the central line at 2,944 is expected.

Technical indicators for today’s XAUUSD forecast suggest a correction to 2,944.

Brent forecast

On the H4 chart of Brent crude oil, the market completed a growth wave to 71.40. Today, 17 March 2025, a correction to 70.50 is expected. After that, further growth toward 71.55 is possible, with a continuation of the trend toward 73.30 as the first target.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix with a pivot point at 71.55, which is key for Brent. Currently, the market is forming a consolidation range around the central line of the price Envelope at 70.00. A growth wave toward the upper boundary at 71.55 is expected.

Technical indicators for today’s Brent forecast suggest the development of a growth wave toward 71.55.