Daily technical analysis and forecast for 17 March 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 17 March 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed an upward wave to 1.1522. Today, 17 March 2026, a decline to 1.1460 is expected. Essentially, a consolidation range above this level is likely to develop. In the event of an upside breakout from the range, the potential for continuation of the correction towards 1.1540 will open. In the event of a downside breakout, the downward wave may extend to 1.1350.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix with a pivot point at 1.1666. It is regarded as key within the structure of the downward wave for EURUSD. At the moment, the market has reached the first target of the upward wave at the central line of the Price Envelope at 1.1522. Next, a decline to 1.1460 is expected. Afterwards, growth to its central line at 1.1522 is possible, with the potential for extension of the wave to 1.1536.

Technical indicators for today’s EURUSD forecast suggest a consolidation range could form above 1.1460, with a higher likelihood of an upside breakout and the beginning of a correction towards 1.1536.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed a correction wave to 158.88 and, having received support there, continues developing the upward wave. Today, 17 March 2026, continuation of the wave towards 159.93 is expected. Later, the probability of forming a consolidation range around this level will be considered. In the event of an upside breakout, the potential for a wave to 160.80 will open. In the event of a downside breakout, a corrective wave to 156.00 will be considered.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 156.00. It is regarded as key within the structure of this wave. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 159.93. Extension of the wave upwards to 160.80 cannot be ruled out. Then a decline to the lower boundary at 156.00 is expected.

Technical indicators for today’s USDJPY forecast suggest a potential rise to 159.93.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market completed an upward wave to 1.3340 and continues forming a consolidation range below this level. A downside breakout from the range would open the potential for a decline to 1.3266, while an upside breakout could pave the way towards 1.3411, a local target. After reaching this level, a correction to 1.3300 cannot be ruled out.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.3400. It is regarded as key within the structure of this wave. Today, a downward wave could develop, aiming for the lower boundary of the Price Envelope at 1.3266. Later, an upward move to its central line at 1.3344 is possible.

Technical indicators for today’s GBPUSD forecast suggest a potential decline to 1.3266, followed by growth to 1.3411.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market broke above 0.7017 and completed an upward wave to 0.7090. Today, 17 March 2026, development of a consolidation range around this level is expected. In the event of a downside breakout, a decline to 0.7010 is expected. After that, the probability of growth to 0.7080 will be considered.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the wave matrix of the AUDUSD downward wave with a pivot point at 0.7080. It is regarded as key within the structure of this wave. At the moment, the market reached the central line of the Price Envelope at 0.7090. Next, a decline to its lower boundary at 0.6969 is expected.

Technical indicators for today’s AUDUSD forecast suggest a downward wave might start, targeting 0.6969.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market is forming a downward wave structure towards 1.3636. Today, 17 March 2026, a corrective movement to 1.3636 is expected. After that, growth to 1.3700 may follow, with prospects for continuation of the trend to 1.3777.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 1.3629. It is regarded as key for USDCAD within this wave structure. At the moment, the market is forming a corrective wave towards the central line of the Price Envelope at 1.3636. Later, growth to its upper boundary at 1.3777 is expected.

Technical indicators for today’s USDCAD forecast suggest a potential drop to 1.3636.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 5043 and is forming a downward wave towards 4,954. Today, 17 March 2026, reaching this level is expected. Later, the probability of the beginning of an upward wave towards 5,180 will be considered, with prospects for continuation of the trend to 5,412. As an alternative scenario, if the market breaks lower, another decline leg to 4,900 cannot be ruled out.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 5,140. It is regarded as key for XAUUSD within this wave. At the moment, the market is forming a consolidation range below the central line of the Price Envelope at 5,090. In the event of a downside breakout, the beginning of a downward wave to its lower boundary at 4,954 is expected. In the event of an upside breakout, the potential for an upward wave towards 5,257 will open.

Technical indicators for today’s XAUUSD forecast suggest a potential decline to 4,954.

Brent forecast

On the H4 chart of Brent crude oil, the market is forming a consolidation range around 98.00. Today, 17 March 2026, the market broke above the range. The probability of continued growth towards 103.30 will be considered, with prospects for continuation of the trend to 110.70. The target is local.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 98.00. It is regarded as key for Brent within this wave. At the moment, the market is forming an upward move towards the upper boundary of the Price Envelope at 103.30.

Technical indicators for today’s Brent forecast suggest potential growth to 103.30.

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