Daily technical analysis and forecast for 19 May 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 19 May 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed a correction to 1.1660. Today, 19 May 2026, a downward wave could develop, aiming for 1.1606. Subsequently, a corrective move to 1.1626 cannot be ruled out. Then the price is expected to decline to 1.1553 and possibly further to 1.1515.

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 is forming a consolidation range below 1.1660. A downward move towards the lower boundary of the Price Envelope at 1.1553 is expected. Subsequently, an upward wave could develop, aiming for the central line of the Price Envelope at 1.1626.

Technical indicators for today’s EURUSD forecast suggest the downward wave could continue to 1.1553.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed an upward wave, reaching 159.06. Today, 19 May 2026, the potential for an upward wave to 159.30 has opened. Subsequently, a consolidation range is expected to develop below this level. A wave towards 159.60 is likely, with prospects for continuation of the trend to 160.88.

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 received support at 158.88. Today, the price is expected to move higher towards the upper boundary of the Price Envelope at 159.30. Subsequently, a new consolidation range is expected to develop below this level. A downward breakout from the range would open the door for a decline to 158.30.

Technical indicators for today’s USDJPY forecast suggest the upward wave could continue towards 159.30.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market completed an upward wave to 1.3444 and started a decline towards 1.3300. Today, 19 May 2026, a consolidation range is expected to form around this level. A downward breakout would open the potential for a continued wave towards 1.3200 and possibly further to 1.3000.

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 develop, targeting the lower boundary of the Price Envelope at 1.3300, followed by growth towards its central line at 1.3333.

Technical indicators for today’s GBPUSD forecast suggest a drop to 1.3300.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market is forming a consolidation range around 0.7157. Today, 19 May 2026, the price is expected to break below the range to continue 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 downward wave matrix for AUDUSD with a pivot point at 0.7200. It is regarded as key within this structure. At the moment, the market completed an upward wave to 0.7180. Subsequently, the price is expected to dip towards the lower boundary of the Price Envelope at 0.7050.

Technical indicators for today’s AUDUSD forecast suggest a decline to 0.7050.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market received support at 1.3730. Today, 19 May 2026, the price broke above the 1.3747 level, opening the potential for an upward wave towards 1.3790 and possibly further to 1.3850.

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 for USDCAD within this growth wave structure. At the moment, the market is forming an upward wave structure towards the upper boundary of the Price Envelope at 1.3790. Subsequently, a corrective move towards its central line at 1.3717 is possible, followed by an upward wave to 1.3850.

Technical indicators for today’s USDCAD forecast suggest growth to 1.3790.

XAUUSD forecast

On the H4 chart of XAUUSD, the market broke below 4,550. Today, 19 May 2026, a downward move towards 4,400 is expected. Subsequently, prices could rise to 4,450 before dipping to 4,240.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point 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. A downward breakout from the range could extend the downward wave towards 4,400 and possibly further to 4,240.

Technical indicators for today’s XAUUSD forecast suggest a decline to 4,400.

Brent forecast

On the H4 chart of Brent crude oil, the market broke above 106.50 and completed an upward wave to 109.29. Today, 19 May 2026, a correction towards 104.50 is possible. 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 upward wave matrix with a pivot point 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 106.50. An upward breakout would open the way towards its upper boundary at 118.50, while a downward breakout would trigger a corrective move towards its lower boundary at 101.00. Subsequently, growth to 118.50 is expected.

Technical indicators for today’s Brent forecast suggest growth to 118.50.

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