Daily technical analysis and forecast for 2 March 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 2 March 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market broke below 1.1766 and continues to form a decline wave structure towards 1.1712. Today, 2 March 2026, this target level is expected to be reached. Further on, the probability of a correction towards 1.1771 will be considered. Then the trend may continue towards 1.1655. The target is local.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the wave matrix with a pivot centre at 1.1835. It is regarded as key within the structure of the decline wave for EURUSD. At the moment, the market continues to develop a consolidation range around the central line of the Price Envelope at 1.1771. A downward move towards 1.1712 remains relevant today, and if this level is broken, the potential towards 1.1650 will open.

Technical indicators for today’s EURUSD forecast suggest a continued move towards 1.1712. Alternatively, a wave to 1.1833 cannot be ruled out.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market is forming a consolidation range around 156.00. Today, 2 March 2026, in the event of an upside breakout from the range, the potential for a wave towards 157.70 will open. In the event of a downside breakout, continuation of the decline wave towards 155.45 cannot be ruled out. Further on, the probability of developing a growth wave towards 156.10 will be considered.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott Wave structure and the upward wave matrix with a pivot centre at 154.18. It is regarded as key within the structure of this wave. At the moment, the market is forming a consolidation range above the central line of the Price Envelope at 155.65. An expansion of the range upwards to 157.77 cannot be ruled out. Then a decline to the lower boundary at 154.44 is expected.

Technical indicators for today’s USDJPY forecast suggest potential growth to 157.77.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market broke below 1.3424 and continues to form a wave structure towards 1.3355. Today, 2 March 2026, a move to 1.3355 is expected, followed by the start of a correction to 1.3424. Then a decline to 1.3280 is expected. The target is the first one.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott Wave structure and the downward wave matrix with a pivot centre at 1.3570. It is regarded as key within the structure of this wave. Today, the probability of developing a decline wave to the lower boundary of the Price Envelope at 1.3355 will be considered. Further on, the beginning of a growth leg to its central line at 1.3424 will be considered. Subsequently, the downward wave could continue towards 1.3285.

Technical indicators for today’s GBPUSD forecast suggest a potential decline to 1.3355.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market broke below 0.7117 and continues the decline wave towards 0.7040. Today, 2 March 2026, development of a consolidation range around 0.7085 is expected. In case of an upside breakout, the potential for growth to 0.7150 will open. In case of a downside breakout, development of a wave to 0.7028 is expected. Then the probability of a consolidation range developing around this level will be considered.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the wave matrix of the AUDUSD growth wave with a pivot centre at 0.7088. It is regarded as key within the structure of this wave. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 0.7085. A decline to its lower boundary at 0.7028 is expected today.

Technical indicators for today’s AUDUSD forecast suggest a continued downward move towards 0.7028.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market is forming a consolidation range around 1.3672. Today, 2 March 2026, the market completed a decline wave to 1.3624 and started developing a growth structure towards 1.3737.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the upward wave matrix with a pivot centre at 1.3684. It is regarded as key for USDCAD within the structure of this wave. At the moment, the market is forming a growth wave to the upper boundary of the Price Envelope at 1.3737. Further on, a decline to its lower boundary at 1.3626 is expected.

Technical indicators for today’s USDCAD forecast suggest potential growth to 1.3737.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a growth wave to 5,390. Today, 2 March 2026, development of a consolidation range below this level is expected. In case of an upside breakout from the range, the potential for a wave towards 5,511 will open. In case of a downside breakout, a corrective leg to 5,080 cannot be ruled out.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the upward wave matrix with a pivot centre at 5,080. It is regarded as key for XAUUSD within this wave. At the moment, the market is completing a growth wave to the upper boundary of the Price Envelope at 5,511. Further on, a decline wave to its lower boundary at 5,080 is expected to begin.

Technical indicators for today’s XAUUSD forecast suggest a potential rise to 5,511.

Brent forecast

On the H4 chart of Brent crude oil, the market broke above 73.40 and continues the growth wave towards 78.60. Today, 2 March 2026, this price level is expected to be reached. Further on, the probability of the beginning of a corrective decline towards 71.83 will be considered.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the upward wave matrix with a pivot centre at 71.83. It is regarded as key for Brent within this wave. At the moment, the market is forming a growth leg to the upper boundary of the Price Envelope at 78.60. Further on, the beginning of a corrective move to its lower boundary at 71.83 is expected.

Technical indicators for today’s Brent forecast suggest potential growth to 78.60.

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