Daily technical analysis and forecast for 18 May 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 18 May 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market formed a consolidation range around 1.1655 and broke below it. Today, 18 May 2026, we consider the probability of development of a downward wave to 1.1590. Subsequently, a corrective leg to 1.1655 cannot be ruled out. Then a decline to 1.1590 is expected, with prospects for continuation of the wave to 1.1525.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the Wave Matrix with a pivot centre at 1.1666. It is regarded as key within the structure of the downward wave for EURUSD. At the moment, the market is forming a consolidation range below 1.1622. We expect a downward leg towards the lower boundary of the Price Envelope at 1.1525. Subsequently, development of a growth wave towards the central line of the Price Envelope at 1.1655 cannot be ruled out.

Technical indicators for today’s EURUSD forecast suggest considering the probability of continuation of the downward wave to 1.1525.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed a growth wave to 158.58. Today, 18 May 2026, the potential for a growth wave to 159.88 has opened. Subsequently, we expect development of a consolidation range below this level. It is relevant to consider the probability of the beginning of a wave to 159.00. Then growth with continuation of the trend to 160.25 is expected.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott Wave structure and the Wave Matrix of the growth wave with a pivot centre at 159.10. It is regarded as key within this structure. At the moment, the market received support at 158.58 and broke above 158.88. We expect a growth wave towards the upper boundary of the Price Envelope at 159.70. Subsequently, we expect development of a new consolidation range below this level. In case of a downward breakout from the range, the potential for a decline to 159.00 will open.

Technical indicators for today’s USDJPY forecast suggest considering the probability of continuation of the growth wave to 159.70.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market broke below 1.3333 and is performing a downward wave towards 1.3200. Today, 18 May 2026, we expect formation of a consolidation range around this level. In case of a breakout below the level, the potential for continuation of the wave to 1.3111 will open, with prospects for continuation of the trend to 1.3000. In case of an upwards breakout from the range, the potential for a wave towards 1.3333 will open. Subsequently, a decline to 1.3000 is expected.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott Wave structure and the Wave Matrix of the downward wave with a pivot centre at 1.3340. It is regarded as key within this structure. Today, we consider the probability of development of a downward wave towards the lower boundary of the Price Envelope at 1.3200, followed by growth towards its central line at 1.3333.

Technical indicators for today’s GBPUSD forecast suggest considering the probability of a decline to 1.3200.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market is forming a consolidation range around 0.7160. Today, 18 May 2026, we expect a breakout below the range for continuation of the wave to 0.7105. Subsequently, growth to 0.7160 is expected.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the Wave Matrix of the downward wave for AUDUSD with a pivot centre at 0.7200. It is regarded as key within this structure. At the moment, the market completed a growth wave to 0.7160. Subsequently, we expect the beginning of a decline towards the lower boundary of the Price Envelope at 0.7105.

Technical indicators for today’s AUDUSD forecast suggest considering the probability of a decline to 0.7105.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market received support at 1.3737. Today, 18 May 2026, the level of 1.3760 has been broken upwards. The potential for a growth wave to 1.3790 has opened, with prospects for continuation of the trend to 1.3850.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the Wave Matrix of the growth wave with a pivot centre at 1.3629. It is regarded as key for USDCAD within this growth wave structure. At the moment, the market is forming a growth wave structure towards the upper boundary of the Price Envelope at 1.3790. Subsequently, a corrective leg towards its central line at 1.3717 cannot be ruled out. Further, we expect a growth wave to 1.3850.

Technical indicators for today’s USDCAD forecast suggest considering the probability of growth to 1.3790.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 4,545. Today, 15 May 2026, we expect a downward leg to 4,400. Subsequently, growth to 4,450 is expected. Then we expect a downward wave to 4,240.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the Wave Matrix of the downward wave with a pivot centre at 4,550. It is regarded as key for XAUUSD within this downward wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 4,550. In case of a downward breakout from the range, continuation of the downward wave to 4,400 is expected, with prospects for extension of this wave to 4,240.

Technical indicators for today’s XAUUSD forecast indicate the probability of a decline to 4,400.

Brent forecast

On the H4 chart of Brent crude oil, the market broke above 106.50 and completed a growth wave to 108.50. Today, 18 May 2026, we consider the probability of a correction to 106.50. Subsequently, growth to 112.00 is expected, with prospects for continuation of the trend to 118.50.

Technically, this scenario is confirmed by the indicated Elliott Wave structure and the growth wave matrix with a pivot centre at 98.00. It is regarded as key for Brent within this wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 105.60. In case of an upwards breakout, the potential for a growth wave towards its upper boundary at 118.50 will open. In case of a downward breakout, a corrective leg towards its lower boundary at 101.00 cannot be ruled out. Subsequently, growth to 118.50 is expected.

Technical indicators suggest considering, in today’s Brent forecast, growth to 118.50.

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