Daily technical analysis and forecast for 23 March 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 23 March 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed a downward wave to 1.1525 and an upward move to 1.1570. Today, 23 March 2026, a consolidation range has effectively formed between these levels. 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 consolidation range above the central line of the Price Envelope at 1.1528. Further movement is expected to develop as an upward move towards its upper boundary at 1.1647.

Technical indicators for today’s EURUSD forecast suggest a consolidation range could form above 1.1525 today, with a higher likelihood of an upward breakout towards 1.1647.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market broke above 159.00 and completed an upward wave, reaching 159.60. Today, 23 March 2026, the growth wave is expected to continue towards 160.30. Later, a consolidation range could form around this level. An upward breakout would open the potential for a move towards 161.00. Conversely, if the price breaks downwards, a corrective move towards 156.10 is possible.

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 160.30. The pair may extend the move towards 161.00 before declining towards the lower boundary at 157.50.

Technical indicators for today’s USDJPY forecast suggest potential growth to 160.30.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market formed a downward wave, reaching 1.3300. Today, 23 March 2026, the decline is expected to continue towards 1.3262. Afterwards, a consolidation range could form above this level. A downward breakout would open the potential for a decline to 1.3200. Conversely, an upward breakout would open the door for a move towards 1.3494, a local target. After the price reaches this level, a decline 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 pair could dip towards the lower boundary of the Price Envelope at 1.3260. Later, an upward move towards its upper boundary at 1.3494 might begin.

Technical indicators for today’s GBPUSD forecast suggest a potential decline to 1.3260.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market broke below 0.6982 and continues to develop a structure towards 0.6920. Today, 23 March 2026, a consolidation range is expected to form around this level. In case of a downward breakout, further movement towards 0.6900 is expected. An upward breakout would open the door for an upward wave towards 0.6800.

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 a downward wave towards the lower boundary of the Price Envelope at 0.6900. Afterwards, an upward move towards its central line at 0.7020 is expected.

Technical indicators for today’s AUDUSD forecast suggest a potential downward wave towards 0.6900.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market is forming an upward wave structure towards 1.3772. Today, 23 March 2026, an upward move to 1.3772 is expected. Afterwards, a decline to 1.3636 may follow.

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 a potential rise to 1.3772.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 4,500 and continues to form a downward wave towards 4,272. Today, 23 March 2026, an upward wave is expected to begin, aiming for 4,800, with the trend potentially continuing to 4,850. Alternatively, in case of a downside breakout, another downward move towards 4,200 cannot be ruled out.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 4,850. It is regarded as key within this structure. At the moment, the market is forming a consolidation range above the lower boundary of the Price Envelope at 4,270. In case of a downward breakout, the decline is expected to extend towards 4,200. An upward breakout would open the door for an upward wave towards 4,850.

Technical indicators for today’s XAUUSD forecast suggest a potential decline to 4,270.

Brent forecast

On the H4 chart of Brent crude oil, the market completed an upward wave structure, reaching 108.60. Today, 23 March 2026, a correction towards 104.40 is likely. Afterwards, a new growth wave is expected to begin, aiming for 116.37 as 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 potential correction towards 104.40, followed by growth to 116.37.

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