Daily technical analysis and forecast for 4 May 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 4 May 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed a downward wave, reaching 1.1715. Today, 4 May 2026, a corrective structure towards 1.1746 has formed. Subsequently, the pair could decline to 1.1696, with the trend potentially continuing towards 1.1650.

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 1.1780. Today, the downward wave is expected to continue towards its lower boundary at 1.1650.

Technical indicators for today’s EURUSD forecast suggest the downward wave could continue towards 1.1650.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market broke below 160.50 and completed a downward wave to 155.46. Today, 4 May 2026, a consolidation range is developing below 157.27, with the downward wave likely to continue towards 155.40. A breakout below this level would open the potential for a continued move towards 153.80.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 159.10. It is regarded as key within this structure. At the moment, the market is performing a downward wave towards the lower boundary of the Price Envelope at 155.40. Further, a new consolidation range is expected to develop below this level. A downward breakout would open the door to a decline to 153.80.

Technical indicators for today’s USDJPY forecast suggest a decline to 153.80.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market completed an upward wave to 1.3646. Today, 4 May 2026, the pair is expected to drop to 1.3555. A breakout below this level would open the potential for a continued downward wave towards 1.3444 and possibly further to 1.3340.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.3340. It is regarded as key within this structure. Today, a downward wave could continue towards the lower boundary of the Price Envelope at 1.3444. Subsequently, an upward wave could begin, aiming for its central line at 1.3555. Then a decline to 1.3340 is expected.

Technical indicators for today’s GBPUSD forecast suggest a drop to 1.3340.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market formed a consolidation range around 0.7170. Today, 4 May 2026, an upward breakout from the range opened the potential for a continued movement towards 0.7229, with prospects for further growth to 0.7247.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.7000. It is regarded as key within this structure. At the moment, the market is performing an upward wave towards the upper boundary of the Price Envelope at 0.7229. Subsequently, the pair is expected to decline to its central line at 0.7171, with the upward wave likely to continue later towards 0.7240.

Technical indicators for today’s AUDUSD forecast suggest growth to 0.7229.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market completed a downward wave structure to 1.3550. Today, 4 May 2026, a consolidation range has formed above this level. An upward breakout from the range would open the door for a wave to 1.3629, while a downward breakout could push the price down to 1.3545. Subsequently, growth to 1.3715 is expected.

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 a growth structure towards the upper boundary of the Price Envelope at 1.3629. Subsequently, a corrective wave to its central line at 1.3545 is expected.

Technical indicators for today’s USDCAD forecast suggest growth to 1.3659.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a downward wave, reaching 4,590. Today, 4 May 2026, an upward move to 4,704 is expected. Subsequently, prices are projected to dip to 4,430 before climbing to 4,666.

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 above the lower boundary of the Price Envelope at 4,606. In case of a downward breakout, the downward wave is expected to continue to 4,430. Alternatively, an upward breakout would open the potential for an upward wave towards 4,704.

Technical indicators for today’s XAUUSD forecast suggest growth to 4,704.

Brent forecast

On the H4 chart of Brent crude oil, the market completed a growth structure to 111.00. Today, 4 May 2026, a new consolidation range could form below 107.90. An upward breakout from the range would open the way for growth to 120.50 and possibly further to 126.50, a local target. Conversely, a downward breakout could trigger a corrective move to 102.20. Subsequently, growth to 120.50 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 107.90. An upward breakout would open the way towards its upper boundary at 120.50.

Technical indicators for today’s Brent forecast suggest a decline to 102.20 and growth to 120.50.

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