Daily technical analysis and forecast for 17 July 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, Brent and BTCUSD for 17 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave towards 1.1480. Today, 17 July 2026, the market is forming a downward wave towards 1.1408. A correction towards 1.1444 may follow, before the price declines to 1.1370, a local target.

Technically, this scenario is confirmed by the Elliott wave structure and the wave matrix with a pivot point at 1.1680, a key level in the current EURUSD downward wave. The market formed a consolidation range around the central line of the Price Envelope at 1.1430 and, following a downside breakout, continues to move towards its lower boundary at 1.1408, with the downtrend potentially extending to 1.1370.

Technical indicators for today's EURUSD forecast suggest a decline towards 1.1370.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 161.87 and began to develop an upward wave towards 162.54. Today, 17 July 2026, the market is expected to reach this level. A consolidation range may then form below it. A downward move towards 162.00 cannot be ruled out, followed by a rally to 163.00, with the uptrend potentially extending to 163.40. A new consolidation range may subsequently form below this level.

Technically, this scenario for USDJPY is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level in the current wave. The market is currently forming a consolidation range around 162.30. A downside breakout would open the way towards the lower boundary of the Price Envelope at 161.85, while an upside breakout would pave the way for a move towards its upper boundary at 163.40.

Technical indicators for today's USDJPY forecast suggest a rally towards 163.40.

GBPUSD forecast

On the H4 chart, the GBPUSD pair broke below 1.3520 and completed a downward wave towards 1.3455. Today, 17 July 2026, the market is expected to form a broad consolidation range around this level, which could extend upwards to 1.3500. A downward wave towards 1.3365 may then begin.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.3300, a key level in the current wave. Today, the market is forming a downward wave towards the lower boundary of the Price Envelope at 1.3365. An upward structure towards its central line at 1.3460 is expected afterwards.

Technical indicators for today's GBPUSD forecast suggest a decline towards 1.3365.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave towards 0.6920. Today, 17 July 2026, the market is expected to develop a consolidation range below this level. An upside breakout would open the door for a rally towards 0.7020, while a downside breakout would signal a downward wave towards 0.6945.

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 in the current wave for AUDUSD. The market is currently developing a downward wave towards the lower boundary of the Price Envelope at 0.6945. A correction towards its central line at 0.6980 is expected afterwards, followed by a drop to 0.6888.

Technical indicators for today's AUDUSD forecast suggest the downward wave could continue towards 0.6945.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave towards 1.4014. Today, 17 July 2026, the market is expected to develop a consolidation range around this level. A downside breakout would open the way towards 1.3966, while an upside breakout would signal continued upward movement towards 1.4141 and possibly further to 1.4200.

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 in the current wave for USDCAD. The market completed a downward structure towards the lower boundary of the Price Envelope at 1.4014. A consolidation range is expected to form around this level. A downside breakout would open the way towards 1.4017, while an upside breakout would signal continued upward movement towards its upper boundary at 1.4141.

Technical indicators for today's USDCAD forecast suggest a rise towards 1.4141.

XAUUSD forecast

On the H4 chart, XAUUSD completed an upward wave towards 4,010. Today, 17 July 2026, the market is expected to form a downward wave towards 3,962. A rally towards 4,050 may then follow, before the downtrend continues towards 3,910, 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 in the current wave for XAUUSD. The market is currently developing a downward wave towards the lower boundary of the Price Envelope at 3,920. A rise towards its central line at 4,050 is expected afterwards.

Technical indicators for today's XAUUSD forecast suggest a drop towards 3,910.

Brent forecast

On the H4 chart, Brent completed an upward wave towards 86.00. Today, 17 July 2026, the market may develop a consolidation range below this level. A further upward move towards 86.80 is possible, followed by a decline to 81.15. This will effectively establish the boundaries of a consolidation range around 81.15. A downside breakout from this range could extend the decline towards 75.65. A rally towards 86.80 may then follow, with the potential for the upward wave to extend towards 92.75. An immediate upside breakout would open the way towards 92.75.

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 in the current wave for Brent. The market is currently forming a consolidation range around the upper boundary of the Price Envelope at 86.00. An upward move towards 86.80 is expected next, followed by a decline towards its central line at 81.15.

Technical indicators for today's Brent forecast suggest continued growth towards 86.80, followed by the beginning of a decline to 81.15.

BTCUSD forecast

On the H4 chart, BTCUSD completed an upward wave towards 65,600. Today, 17 July 2026, the market is forming a consolidation range around 63,200. A downside breakout could trigger a downward move towards 60,700, while an upside breakout would open the way towards 68,000.

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 in the current wave for BTCUSD. The market has advanced towards the upper boundary of the Price Envelope at 65,600. A decline towards its lower boundary at 60,700 is expected next.

Technical indicators for today's BTCUSD forecast suggest the price could start to decline towards 60,700.

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