Daily technical analysis and forecast for 17 November 2025

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

EURUSD forecast

On the H4 chart of EURUSD, the market formed a narrow consolidation range around 1.1608 and broke out of the range downwards. On 17 November 2025, the market forms a downward impulse towards 1.1562 as the first target. Afterwards, this wave could correct towards 1.1606. Then the scenario suggests a continued downward movement towards 1.1515, with the potential to extend the trend towards 1.1405.

The Elliott wave structure and the downward wave matrix with a pivot point at 1.1660 confirm this scenario and act as the key elements in the EURUSD wave structure. At the moment, the market forms a downward wave towards the central line of the Price Envelope at 1.1562. Today, the outlook includes a move to this level and a corrective leg towards 1.1606. Afterwards, the scenario suggests a downward wave towards the lower boundary of the Price Envelope at 1.1515, with the potential to extend the trend towards 1.1405.

Technical indicators for today’s EURUSD forecast suggest a decline towards 1.1562.

USDJPY forecast

On the H4 chart of USDJPY, the market completed a correction towards 153.62 and continues to form an upward wave towards 155.15. On 17 November 2025, the price could reach this target level and then start a correction towards 153.00. Afterwards, an upward wave may begin, aiming for 155.70 as a local target.

The Elliott wave structure and the matrix of the upward wave with a pivot point at 152.22 confirm this scenario and act as the key elements in this wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 154.40. The outlook includes an upward move towards its upper boundary at 155.15. Afterwards, a corrective leg towards its lower boundary at 153.00 remains possible, followed by a rise towards its upper boundary at 155.70.

Technical indicators for today’s USDJPY forecast suggest a rise towards 155.15.

GBPUSD forecast

On the H4 chart of GBPUSD, the market completed a downward impulse towards 1.3107. On 17 November 2025, the market formed a correction towards 1.3190. Afterwards, the scenario includes a new downward impulse towards 1.3126. A breakout below this level would open the potential for a continuation of the wave towards 1.3047, with the potential to extend the trend towards 1.2915.

The Elliott wave structure and the downward wave matrix with a pivot point at 1.3188 confirm this scenario and act as the key elements in this wave structure. The market has recently completed a correction wave towards the upper boundary of the Price Envelope at 1.3215 (testing from below). Today, the downward wave could continue towards its lower boundary at 1.3047.

Technical indicators for today’s GBPUSD forecast suggest the beginning of a downward wave towards 1.3047.

AUDUSD forecast

On the H4 chart of AUDUSD, the market completed a downward wave towards 0.6503 and a correction towards 0.6549. On 17 November 2025, the outlook includes a downward wave towards 0.6500. A breakout below this level would open the door for a downward wave towards 0.6455, with the trend potentially extending towards 0.6422 as a local estimated target.

The Elliott wave structure and the downward wave matrix in AUDUSD with a pivot point at 0.6570 confirm this scenario and act as the key elements in this wave structure. The market has recently completed a correction wave towards the upper boundary of the Price Envelope at 0.6584. Today, the market may continue the downward wave towards its central line at 0.6503, with the potential to extend the third wave towards its lower boundary at 0.6455.

Technical indicators for today’s AUDUSD forecast suggest the beginning of a downward wave towards 0.6455.

USDCAD forecast

On the H4 chart of USDCAD, the market forms a consolidation range around 1.4020 without a clear trend. On 17 November 2025, the range could expand upwards to 1.4055 and downwards to 1.3973. A breakout above this range would open the door for an upward wave towards 1.4160. A breakout downwards leaves open the possibility of a continued correction towards 1.3939, followed by a rise towards 1.4160, a local target.

The Elliott wave structure and the upward wave matrix with a pivot point at 1.3939 confirm this scenario and act as the key elements for USDCAD in this wave structure. Currently, the market continues its correction towards the lower boundary of the Price Envelope at 1.3973. Today, the relevant scenario includes the completion of the correction and the beginning of a rising wave towards its upper boundary at 1.4160.

Technical indicators for today’s USDCAD forecast suggest a continued upward movement towards 1.4160.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a correction wave towards 4,032. On 17 November 2025, the scenario includes an upward move towards 4,122. In effect, the market may form a consolidation range around this level. A breakout downwards would pave the way for a downward wave towards 4,000. A breakout upwards could extend the upward wave towards 4,284.

The Elliott wave structure and the upward wave matrix with a pivot point at 4,088 confirm this scenario and act as the key elements for XAUUSD in this wave. At the moment, the market is forming a consolidation range below the central line of the Price Envelope at 4,122. Today, the relevant scenario includes a decline towards its lower boundary at 4,000, followed by a rise towards its upper boundary at 4,284.

Technical indicators for today’s XAUUSD forecast point to a correction towards 4,000 and the beginning of a rising wave towards 4,215 and 4,284.

Brent forecast

On the H4 chart of Brent crude, the market completed an upward impulse towards 64.30 and a correction towards 63.33. On 17 November 2025, the scenario includes an upward leg towards 64.70. The market will effectively outline a new consolidation range. A breakout above this range would open the way for a continued move towards 66.10. A breakout above 66.10 would open the potential for the trend to continue towards 70.00 as a local target.

The Elliott wave structure and the upward wave matrix with a pivot point at 63.33 confirm this scenario and act as the key elements for Brent in this wave. The market has recently completed a correction wave towards the central line of the Price Envelope at 63.33. Today, the outlook includes the beginning of an upward impulse towards its upper boundary at 66.10.

Technical indicators in today’s Brent forecast suggest the beginning of a rise towards 66.10.

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