Daily technical analysis and forecast for 20 March 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 20 March 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed an upward wave, reaching 1.1616. Today, 20 March 2026, a downward wave towards 1.1506 is expected. In practice, a consolidation range is likely to form around 1.1488. An upward breakout would open the potential for a continued correction towards 1.1647, while a downward breakout could extend the downward wave towards 1.1266.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix with a pivot point at 1.1666. It is considered key within the structure of the EURUSD downtrend. At the moment, the market is forming a downward wave towards the central line of the Price Envelope at 1.1506, with an upward move towards 1.1647 expected later.

Technical indicators for today’s EURUSD forecast suggest a consolidation range could form around 1.1530 today, with a higher likelihood of an upward breakout towards 1.1647.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed a correction wave to 157.57. Today, 20 March 2026, the pair is expected to continue its upward trajectory towards 160.15. Later, a consolidation range could form around this level. An upward breakout would open the door for a move towards 161.00, while a downward breakout could trigger a corrective wave towards 156.10.

Technically, this scenario 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 this structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 160.15. The pair could extend the move towards 161.00 before declining towards the lower boundary at 156.10.

Technical indicators for today’s USDJPY forecast suggest potnetial growth to 160.15.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market completed an upward wave, reaching 1.3466. Today, 20 March 2026, a decline towards 1.3333 is expected. Afterwards, a consolidation range is likely to form above this level. A downward breakout would open the door for a decline to 1.3232. Conversely, an upward breakout could open the way towards 1.3494, a local target. After the price reaches this level, a correction towards 1.3354 is possible.

Technically, this scenario 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 this structure. Today, the price could dip towards the central line of the Price Envelope at 1.3333. Later, an upward move towards its upper boundary at 1.3494 could follow.

Technical indicators for today’s GBPUSD forecast suggest a potential decline to 1.3333.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market broke above 0.7070 and continues to develop a structure towards 0.7140. Today, 20 March 2026, a consolidation range is expected to form around 0.7070. A downward breakout could push the pair lower to 0.7030, while an upward breakout would open the potential for an upward wave towards 0.7197.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 0.7070. It is regarded as key within this structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 0.7149. Afterwards, a decline towards its central line at 0.7070 is expected.

Technical indicators for today’s AUDUSD forecast suggest an upward wave towards 0.7140.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market is forming an upward wave structure towards 1.3772. Today, 20 March 2026, an upward move to 1.3772 is expected, with a decline to 1.3636 likely to follow later.

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 within this structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 1.3772. Later, a decline towards its central line at 1.3636 is expected.

Technical indicators for today’s USDCAD forecast suggest potential growth to 1.3772.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 4,852 and completed a downward wave to 4,503. Today, 20 March 2026, an upward wave towards 4,852 is expected, with the trend potentially continuing towards 5,050. Alternatively, a downside breakout could result in another downward move towards 4,472.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 5,055. It is regarded as key within this wave structure. At the moment, the market is forming a consolidation range above the lower boundary of the Price Envelope at 4,550. In case of a downward breakout, the decline is expected to continue towards 4,472. Alternatively, an upward breakout would open the door for an upward wave towards 4,858.

Technical indicators for today’s XAUUSD forecast suggest a potential rise to 4,858.

Brent forecast

On the H4 chart of Brent crude oil, the market completed an upward wave to 113.60. Today, 20 March 2026, a correction towards 98.00 is expected. Afterwards, a new upward wave is likely to begin, aiming for 116.37, a local target.

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 within this structure. At the moment, the market is forming an upward move towards the upper boundary of the Price Envelope at 116.37.

Technical indicators for today’s Brent forecast suggest a correction towards 98.00, followed by growth to 116.37.

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