Daily technical analysis and forecast for 16 April 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 16 April 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market formed a consolidation range around 1.1770. Today, 16 April 2026, an upward move to 1.1828 is expected, with prospects for continuation of the trend to 1.1878. Subsequently, a downward wave to 1.1700 could follow.

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 completed an upward move to the upper boundary of the Price Envelope at 1.1800 and a correction to its central line at 1.1770. The consolidation range is expected to continue developing above this level. A downward breakout could trigger a decline to its lower boundary at 1.1700. Conversely, an upward breakout would open the potential for growth to 1.1878.

Technical indicators for today’s EURUSD forecast suggest a downward wave to 1.1770 and growth to 1.1878.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed a downward wave, reaching 158.38. Today, 16 April 2026, an upward wave is developing to 158.88. Subsequently, a downward wave towards 157.65 is possible, potentially continuing to 156.00.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 159.19. It is regarded as key within this structure. At the moment, the market completed a corrective wave to the lower boundary of the Price Envelope at 158.80. Further, a new consolidation range is expected to develop around this level. An upward breakout would open the potential for growth to its upper boundary at 159.65, with prospects for a continued wave towards 160.60. A downward breakout would open the way for a correction towards its central line at 157.65.

Technical indicators for today’s USDJPY forecast suggest a decline to 157.65.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market continues to develop a consolidation range around 1.3530. Today, 16 April 2026, the price is expected to break above the range, opening the door for an upward wave towards 1.3680, with prospects for continuation of the trend to 1.3690.

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 this structure. Today, an upward wave to the upper boundary of the Price Envelope at 1.3680 is possible. Subsequently, a downward wave could begin, aiming for its lower boundary at 1.3434.

Technical indicators for today’s GBPUSD forecast suggest growth to 1.3680.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market formed a consolidation range around 0.7122 and, after an upward breakout, completed a wave to 0.7190. Today, 16 April 2026, growth is expected to continue to 0.7216. A breakout above this level would open the potential for continued growth to 0.7282.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 0.7000. It is regarded as key within this structure. At the moment, the market is undergoing a correction towards its upper boundary at 0.7217. Subsequently, the pair is expected to decline to the central line of the Price Envelope at 0.7122 before returning to 0.7282.

Technical indicators for today’s AUDUSD forecast suggest a downward wave could begin, aiming for 0.7217.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market completed a downward structure to 1.3712. Today, 16 April 2026, a consolidation range is expected to develop above this level. A downward breakout would open the potential for a decline to 1.3700, while an upward breakout could push the price higher to 1.3865 and potentially up to 1.4025.

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 completed a downward structure to the lower boundary of the Price Envelope at 1.3712. Subsequently, an upward wave could begin, aiming for its central line at 1.3865, with prospects for continuation of the trend to 1.4025.

Technical indicators for today’s USDCAD forecast suggest growth to 1.3865.

XAUUSD forecast

On the H4 chart of XAUUSD, the market is forming a consolidation range around 4,812. Today, 16 April 2026, prices are expected to dip to 4,755 before rising to 4,8983. A consolidation range is practically forming around 4,750. An upward breakout from this range would open the door for growth to 5,050, with prospects for continuation of the trend to 5,065. Alternatively, a downward breakout could trigger another downward move to 4,555, a local target.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 4,474. It is regarded as key within this structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 4,755. In case of a breakout below the range, the downward wave is expected to continue to 4,555. Alternatively, an upward breakout would open the potential for an upward wave to 4,898.

Technical indicators for today’s XAUUSD forecast suggest a decline to 4,755 and growth to 4,898.

Brent forecast

On the H4 chart of Brent crude oil, the market completed a downward structure to 91.230. Today, 16 April 2026, a consolidation range could develop above this level. An upward breakout would open the way for growth to 103.00, with prospects for continuation of the trend to 110.00, a local target. In case of a downward breakout, a corrective move to 90.50 is possible. Subsequently, growth to 110.00 is expected.

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 a consolidation range around the central line of the Price Envelope at 95.50. An upward breakout would open the potential for a wave towards its upper boundary at 103.00.

Technical indicators for today’s Brent forecast suggest growth to 103.00.

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