Daily technical analysis and forecast for 2 July 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, Brent and BTCUSD for 2 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair continues to develop a narrow consolidation range around 1.1393. Today, 2 July 2026, the range has expanded upwards to 1.1435 and downwards to 1.1358. A breakout above this range could trigger a rally towards 1.1460, while a downside breakout would open the way for a decline to 1.1260.

Technically, this scenario is confirmed by the Elliott wave structure and the wave matrix with a pivot point at 1.1680, a key level for EURUSD in the current downward wave. At the moment, the market has completed a rally to the central line of the Price Envelope at 1.1435 and is developing a new downward wave towards its lower boundary at 1.1350.

Technical indicators for today's EURUSD forecast suggest the pair could start to decline towards 1.1350.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 162.26 and completed an upward wave to 162.50. Today, 2 July 2026, the market is expected to continue to develop a consolidation range around 162.50. A decline to 162.18 is possible, followed by a rally towards 163.10. A new consolidation range may then form below this level.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level for USDJPY in the current wave. The market is forming a consolidation range around 162.50. A downside breakout would open the way for a decline to the central line of the Price Envelope at 162.18. An upside breakout would pave the way for a move towards its upper boundary at 163.33.

Technical indicators for today's USDJPY forecast suggest a decline to 162.18.

GBPUSD forecast

On the H4 chart, the GBPUSD pair is forming a broad consolidation range around 1.3205. Today, 2 July 2026, the market completed an upward move towards 1.3295. The range may extend to 1.3300. A decline to 1.3270 is then expected, with the downtrend potentially extending to 1.3170. A rebound to 1.3200 may follow afterwards.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.3300, a key level for GBPUSD in the current wave. Today, the market completed a rally to the upper boundary of the Price Envelope at 1.3270. A further rise to 1.3300 (a retest from below) cannot be ruled out. A downward move towards its lower boundary at 1.3170 is expected afterwards. This is the local target.

Technical indicators for today's GBPUSD forecast suggest a decline to 1.3170.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.6880. Today, 2 July 2026, the market is expected to develop a consolidation range below this level. An upside breakout could trigger a correction towards 0.6950, while a downside breakout may extend the downward wave to 0.6828.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 0.7200, a key level for AUDUSD in the current wave. At the moment, the market is completing a downward wave to the central line of the Price Envelope at 0.6880. A further decline to its lower boundary at 0.6828 is expected next, followed by a rally to 0.6950.

Technical indicators for today's AUDUSD forecast suggest the downward wave could extend to 0.6825.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4188. Today, 2 July 2026, the market is expected to move higher towards 1.4270. The boundaries of a consolidation range around 1.4200 have effectively been established. A downside breakout would open the way for a decline to 1.4110, while an upside breakout would signal the continuation of the upward wave towards 1.4333.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 1.3629, a key level for USDCAD in the current wave. The market completed a downward structure to the central line of the Price Envelope at 1.4200. A consolidation range is expected to form around this level. A downside breakout would open the way towards its lower boundary at 1.4110, while an upside breakout would pave the way for a move towards its upper boundary at 1.4333.

Technical indicators for today's USDCAD forecast suggest a rally towards 1.4333.

XAUUSD forecast

On the H4 chart, XAUUSD completed a downward wave to 4,030. Today, 2 July 2026, the market is expected to form an upward wave to 4,129, followed by a decline to 3,800, a local target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 4,550, a key level for XAUUSD in the current wave. The market has completed a downward wave to 4,030. A corrective rebound to the upper boundary of the Price Envelope at 4,129 cannot be ruled out, followed by a decline to its lower boundary at 3,800.

Technical indicators for today's XAUUSD forecast suggest a decline to 3,800.

Brent forecast

On the H4 chart, Brent is developing a downward wave towards 70.50. Today, 2 July 2026, the market is expected to form a consolidation range above this level. A downside breakout could extend the decline to 69.50. A recovery to 75.75 may then follow, with the potential for a further rally to 80.50. An immediate upside breakout would also open the way for a move to 80.50.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 98.00, a key level for Brent in the current wave. The market is forming a consolidation range around the central line of the Price Envelope at 72.15. A downside extension to 70.50 cannot be ruled out before a recovery to 80.50.

Technical indicators for today's Brent forecast suggest the decline could extend to 70.50.

BTCUSD forecast

On the H4 chart, BTCUSD completed an upward wave to 61,290. Today, 2 July 2026, the market may begin a downward wave towards 56,759, followed by a recovery to 61,290. A further decline to 54,960 may then develop.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 70,900, a key level for BTCUSD in the current wave. The market is currently forming a corrective wave towards the upper boundary of the Price Envelope at 61,290. A decline to its lower boundary at 56,759 is expected afterwards.

Technical indicators for today's BTCUSD forecast suggest the downward wave could continue towards 56,759.

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