Daily technical analysis and forecast for 3 February 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 3 February 2026.

EURUSD forecast

On the EURUSD H4 chart, the market continues to move within a bearish correction; however, bulls have managed to consolidate above the EMA-85, indicating easing selling pressure. Today, 3 February 2026, the downward move is likely to end, and new bullish momentum could follow, with a target at the 1.1925 level.

The technical picture confirms this scenario: the MACD histogram is showing a slowdown in its decline and signs of a rebound. A key condition for implementing the bullish scenario will be confident price consolidation above the 1.1855 level, which would signal an upside breakout of the descending corrective channel.

The alternative scenario will be activated if prices decline below the 1.1835 level, which may lead to a continued bearish movement.

USDJPY forecast

On the USDJPY H4 chart, the market is moving lower after rebounding from the EMA-85. Buyers failed to gain a foothold above the 155.65 resistance level, indicating a potential reversal. Today, 3 February 2026, the decline could continue, with a target at 153.35.

The technical picture confirms this scenario: MACD indicator analysis shows a slowdown in histogram growth, signalling increasing selling pressure. A key condition for the bearish scenario will be confident price consolidation below the 154.70 level, which would confirm a breakout below the lower boundary of the ascending corrective channel.

The alternative scenario will be activated if the upper boundary of the descending channel is broken with consolidation above the 156.05 level, which may trigger renewed growth in USDJPY.

GBPUSD forecast

On the GBPUSD H4 chart, prices are rising confidently after rebounding from the EMA-85. The nearest resistance level is located at 1.3735. Today, 3 February 2026, the bearish correction is likely to end, and the price could continue to rise towards 1.3885.

The technical picture confirms this scenario: MACD indicator analysis shows growth in the histogram, signalling the end of the correction phase. A key condition for the bullish scenario will be confident price consolidation above the 1.3725 level, which would indicate a breakout of the upper boundary of the corrective channel.

The alternative scenario will be activated if the price breaks below the 1.3625 support level, which may trigger a continued decline in GBPUSD with targets below current levels.

AUDUSD forecast

On the AUDUSD H4 chart, the market has moved beyond the descending corrective channel and has begun to form an upward wave. The nearest resistance level is located at 0.7105. Today, 3 February 2026, a strong bullish momentum is expected to develop, with a target at 0.7165.

The technical picture confirms this scenario: MACD indicator analysis shows confident growth of the histogram, reflecting the end of the correction phase and the resumption of upward movement. A key condition for the bullish scenario will be price consolidation above the 0.7065 level, which would confirm buyer strength.

The alternative scenario will be activated if the price breaks below the lower boundary of the channel and consolidates below the 0.6905 level, which may push the AUDUSD pair lower.

USDCAD forecast

On the USDCAD H4 chart, the market is forming a downward wave after rebounding from the EMA-85. The nearest support level is located at 1.3615. Today, 3 February 2026, the pair could continue its downward trajectory, targeting the 1.3515 level.

The technical picture confirms this scenario: MACD indicator analysis shows a slowdown in histogram growth, indicating the completion of the previous growth wave. A key condition for the bearish scenario will be confident price consolidation below the 1.3605 level, which would signal a breakout of the lower boundary of the bullish corrective channel.

The alternative scenario will be activated if the price breaks above the upper boundary of the channel and consolidates above the 1.3705 level, which would signal renewed growth in USDCAD.

XAUUSD forecast

On the XAUUSD H4 chart, the market is attempting to rise, with buyers trying to consolidate above the EMA-85. The nearest resistance level is located at 5,005. Today, 3 February 2026, prices are likely to consolidate above the moving average and continue their upward movement towards the 5,205 target.

The technical picture confirms this scenario: MACD indicator analysis shows active growth of the histogram, indicating the end of the correction and the beginning of a new upwardwave. A key condition for the bullish scenario will be confident price consolidation above the 4,985 level, which would confirm buyer strength.

The alternative scenario will be activated if the lower boundary of the channel is broken with consolidation below the 4,805 level, which may trigger further decline in XAUUSD quotes.

Brent forecast

On the Brent H4 chart, the market is rebounding from the EMA-85, indicating active buying pressure near the 65.55 support level. The nearest resistance level is located at the 67.45 level. Today, 3 February 2026, the correction is likely to end, followed by renewed growth towards the 68.40 level.

The technical picture confirms the bullish scenario: MACD indicator analysis shows a slowing decline in the histogram, reflecting the end of the downward momentum. A key condition for the upside scenario will be confident price consolidation above the 66.50 level, which would signal a breakout above the upper boundary of the corrective channel.

The alternative scenario will be activated if the lower boundary of the channel is broken with consolidation below the 65.05 level, which may trigger a resumption of the downward movement in Brent prices.

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