Daily technical analysis and forecast for 5 June 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 5 June 2026.

EURUSD forecast

On the EURUSD H4 chart, the market completed a downward wave to 1.1593 and an upward wave to 1.1644. Today, 5 June 2026, the market declined to 1.1608. Next, a consolidation range is expected to develop above this level. A breakout below the range would open the door for a decline to 1.1525. Afterwards, an upward move towards 1.1600 is likely.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix with a pivot point at 1.1620, a key level in the EURUSD downward wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 1.1615. The price is expected to decline to its lower boundary at 1.1525.

Technical indicators for today’s EURUSD forecast suggest the downward wave could continue to 1.1575, possibly extending towards 1.1525.

USDJPY forecast

On the USDJPY H4 chart, the market found support at 159.60 and completed an upward wave, reaching 160.06. Today, 5 June 2026, a corrective move towards 159.59 cannot be ruled out. Afterwards, growth towards 160.70 is expected, with the market effectively establishing a consolidation range centred around 160.00.

Technically, this USDJPY scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level in this wave structure. At the moment, the market found support at 159.60 and completed an upward wave towards the upper boundary of the Price Envelope at 160.06. Subsequently, a new consolidation range is expected to develop below this level. A downward breakout would open the potential for a decline to its lower boundary at 159.60, while an upward breakout would open the way towards the upper boundary at 160.70.

Technical indicators for today’s USDJPY forecast suggest a corrective wave towards 159.59 and the beginning of growth towards 160.70.

GBPUSD forecast

On the GBPUSD H4 chart, the market completed a downward wave to 1.3410 and an upward wave to 1.3460. Today, 5 June 2026, the market continues to form a consolidation range around 1.3430. A breakout below this level would open the potential for a continued wave towards 1.3290. Alternatively, an upward breakout could expand the range towards 1.3500. Afterwards, a decline in line with the trend towards 1.3200 is expected.

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, a key level in this wave structure. Today, a downward wave towards the lower boundary of the Price Envelope at 1.3377 is possible. Afterwards, growth towards its central line at 1.3440 is expected.

Technical indicators for today’s GBPUSD forecast suggest a decline to 1.3377.

AUDUSD forecast

On the AUDUSD H4 chart, the market completed an upward wave to 0.7147 and a downward move to 0.7105. Today, 5 June 2026, a consolidation range is forming above this level. The downward wave is expected to continue to 0.7070 and possibly further to 0.7060.

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, a key level in this wave structure. At the moment, the market is forming a downward wave towards the lower boundary of the Price Envelope at 0.7070.

Technical indicators for today’s AUDUSD forecast suggest a drop to 0.7070.

USDCAD forecast

On the USDCAD H4 chart, the market continues to develop a consolidation range around 1.3885. Today, 5 June 2026, the price is expected to move higher towards 1.3955, possibly breaking above this level and continuing its trajectory towards 1.4000.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 1.3629, a key level in the USDCAD growth wave structure. At the moment, the market is forming an upward wave towards the upper boundary of the Price Envelope at 1.3955. Subsequently, a downward move towards its central line at 1.3850 is expected.

Technical indicators for today’s USDCAD forecast suggest growth towards 1.3955.

XAUUSD forecast

On the XAUUSD H4 chart, the market completed an upward wave to 4,512 and declined to 4,440. Today, 5 June 2026, a consolidation range is expected to form around this level. A downward breakout would open the way towards 4,270, while an upward breakout could expand the range towards 4,530.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 4,550, a key level in the XAUUSD downward wave structure. At the moment, the market is forming a downward wave towards the lower boundary of the Price Envelope at 4,370, with the potential for this wave to extend as far as 4,270.

Technical indicators for today’s XAUUSD forecast suggest a decline to 4,370.

Brent forecast

On the Brent H4 chart, the market completed an upward wave to 98.15 and declined to 93.39. Today, 5 June 2026, the upward wave could continue towards 101.00. A breakout above this level would open the potential for a continuation of the trend towards 106.40, a local target.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 98.00, a key level for Brent in this wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 95.15. Prices are expected to continue their ascent towards its upper boundary at 101.00.

Technical indicators for today’s Brent forecast suggest continued growth towards 101.00.

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