Daily technical analysis and forecast for 22 May 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 22 May 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market completed a downward wave to 1.1575 and an upward wave to 1.1626. Today, 22 May 2026, a consolidation range could develop below this level. Expansion of the range to 1.1630 cannot be ruled out. Subsequently, the price is expected to dip to 1.1565, possibly moving lower 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 1.1622. A downward move towards the lower boundary of the Price Envelope at 1.1540 is expected. Subsequently, an upward wave towards its central line at 1.1622 cannot be ruled out.

Technical indicators for today’s EURUSD forecast suggest the downward wave could continue to 1.1540.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market continues to form a consolidation range around 158.90. Today, 22 May 2026, in case of an upward breakout, the price could start to rise to 160.06, possibly heading higher to 160.88. Alternatively, a downward breakout would open the door for a correction towards 158.00.

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, an upward wave towards the upper boundary of the Price Envelope at 160.07 is expected. Subsequently, a new consolidation range could develop below this level. A downward breakout from the range would open the potential for a decline to 158.66, while an upward breakout would extend the wave towards 160.88.

Technical indicators for today’s USDJPY forecast suggest the upward wave could continue to 160.07.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market completed a downward wave to 1.3390. Today, 22 May 2026, growth to 1.3434 is expected. Subsequently, a consolidation range could form around this level. A downward breakout would open the way towards 1.3320 and possibly further to 1.3200.

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 towards the lower boundary of the Price Envelope at 1.3300 is possible, followed by growth towards its central line at 1.3390.

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

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market is forming a consolidation range around 0.7127. Today, 22 May 2026, the price is expected to break below the range to continue the wave towards 0.7040. Subsequently, the price is expected to advance to 0.7130 before declining to 0.7000.

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 a downward wave to 0.7100, with the move expected to continue towards the lower boundary of the Price Envelope at 0.7050.

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

USDCAD forecast

On the H4 chart of the USDCAD pair, the market received support at 1.37670. Today, 22 May 2026, the price broke above the 1.3777 level, opening the potential for an upward wave towards 1.3830 and possibly further to 1.3866.

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 1.3830. Subsequently, a corrective move towards its central line at 1.3750 cannot be ruled out, followed by an upward wave to 1.3866.

Technical indicators for today’s USDCAD forecast suggest growth to 1.3830.

XAUUSD forecast

On the H4 chart of XAUUSD, the market formed a wide consolidation range around 4,520. Today, 22 May 2026, a downward move to 4,400 is expected. Subsequently, prices could climb to 4,450 before falling to 4,270.

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 4,520. In case of a downward breakout from the range, the downward wave is expected to continue to 4,400, possibly extending 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 completed a downward wave, reaching 99.40. An upward move to 104.30 and a decline to 102.00 are likely today, 22 May 2026. Subsequently, prices are expected to rise to 109.50, with prospects for continuation of the trend to 113.50.

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 104.30. An upward breakout would open the way towards its upper boundary at 109.50, while a downward breakout would trigger a corrective move towards its lower boundary at 99.10. Subsequently, growth to 113.50 is expected.

Technical indicators for today’s Brent forecast suggest growth to 109.50.

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