Daily technical analysis and forecast for 21 July 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, Brent and BTCUSD for 21 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave towards 1.1446 and declined to 1.1402. Today, 21 July 2026, the market is forming an upward wave towards 1.1422. A decline towards 1.1393 may follow. A breakout below this level would open the way towards 1.1380, 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 has formed a consolidation range around the central line of the Price Envelope at 1.1422. A downside breakout and a wave towards its lower boundary at 1.1380 are expected.

Technical indicators for today's EURUSD forecast suggest a decline towards 1.1380.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 162.41 and began to develop an upward wave towards 162.92. Today, 21 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 162.42. 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 163.00.

Technical indicators for today's USDJPY forecast suggest a rally towards 163.00.

GBPUSD forecast

On the H4 chart, the GBPUSD pair broke below 1.3470 and completed a downward wave towards 1.3418. Today, 21 July 2026, the market is expected to form a broad consolidation range around this level. The range may extend upwards to 1.3440. A downward wave towards 1.3388 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 an upward wave towards 1.3440, followed by a decline towards the lower boundary of the Price Envelope at 1.3388. An upward structure towards its central line at 1.3400 is expected afterwards.

Technical indicators for today's GBPUSD forecast suggest a decline towards 1.3388.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave towards 0.6988. Today, 21 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 0.7012, while a downside breakout would signal a downward wave towards 0.6936.

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 an upward wave towards 0.7012. A correction towards the lower boundary of the Price Envelope at 0.6936 is expected afterwards.

Technical indicators for today's AUDUSD forecast suggest the downward wave could continue towards 0.6936.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave towards 1.4004 and a correction towards 1.4082. Today, 21 July 2026, the market is expected to develop a consolidation range around this level. A downside breakout would open the way towards 1.4044. Conversely, an upside breakout would signal continued upward movement towards 1.4121 and possibly further to 1.4141.

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 1.4004 and an upward move towards its central line at 1.4082. A consolidation range is expected to form around this level. A downside breakout would open the way towards 1.4044, while an upside breakout would signal the continuation of the upward wave towards the upper boundary of the Price Envelope at 1.4121.

Technical indicators for today's USDCAD forecast suggest a decline towards 1.4044, followed by the beginning of a rally towards 1.4121.

XAUUSD forecast

On the H4 chart, XAUUSD is developing an upward wave towards 4,069. Today, 21 July 2026, the market is expected to reach this target and begin a downward wave towards 3,934. A rally towards 4,015 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 an upward wave towards the central line of the Price Envelope at 4,069. A decline towards its lower boundary at 3,934 is expected next, followed by a rise towards its central line at 4,015.

Technical indicators for today's XAUUSD forecast suggest a decline towards 3,934.

Brent forecast

On the H4 chart, Brent completed an upward wave towards 88.99 and declined to 84.66. Today, 21 July 2026, the market may develop a consolidation range around 86.90. A further upward move towards 89.15 is possible, followed by a decline to 82.50. The market will effectively establish the boundaries of a consolidation range around 82.50. A downside breakout from this range could extend the decline towards 81.00. A rally towards 92.82 may then follow, with the potential for the upward wave to extend towards 94.80. An immediate upside breakout would open the way towards 94.80.

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 88.99. An upward move towards 89.15 is expected next, followed by a decline towards its central line at 82.50.

Technical indicators for today's Brent forecast suggest continued growth towards 89.15, followed by the beginning of a decline to 82.50.

BTCUSD forecast

On the H4 chart, BTCUSD is developing an upward wave towards 65,940. Today, 21 July 2026, the market is forming a consolidation range around 64,400. A downside breakout could trigger a downward move towards 63,700, while an upside breakout would open the way towards 66,300.

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 is currently developing an upward structure towards the upper boundary of the Price Envelope at 65,940. A decline towards its lower boundary at 62,900 is expected afterwards.

Technical indicators for today's BTCUSD forecast suggest growth towards at least 65,940.

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