Daily technical analysis for 22 July 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, Brent, and BTCUSD for 22 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave to 1.1429, followed by a decline to 1.1396. Today, 22 July 2026, the market is forming an upward wave structure towards 1.1411. A decline to 1.1392 may follow. A breakout below this level would open the way for a wave towards 1.1325, 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 1.1425. Following a downside breakout, the pair continues to develop a downward wave towards its lower boundary at 1.1392, with the downtrend potentially extending to 1.1325.

Technical indicators for today's EURUSD forecast suggest a decline towards 1.1325.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 162.60 and began to develop an upward wave towards 163.55. Today, 22 July 2026, the market is expected to advance towards 163.30. A consolidation range may then form below this level, with a decline to 162.80 possible. A rally towards 163.55 is expected afterwards, with the uptrend potentially extending to 164.15. A new consolidation range may subsequently develop 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 forming a consolidation range around 162.80. A downside breakout would open the way towards the central line of the Price Envelope at 162.55, while an upside breakout would pave the way for a wave towards its upper boundary at 163.55.

Technical indicators for today's USDJPY forecast suggest a rally towards 163.55.

GBPUSD forecast

On the H4 chart, the GBPUSD pair broke below 1.3430 and completed a downward wave to 1.3360. Today, 22 July 2026, the market is expected to form a broad consolidation range around this level. The range may expand upwards to 1.3400. A downward wave towards 1.3340 is then expected, with the downtrend potentially extending to 1.3220, a local target.

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. The market has completed a downward wave to the lower boundary of the Price Envelope at 1.3360. A consolidation range is expected to develop around this level, followed by a decline towards 1.3340.

Technical indicators for today's GBPUSD forecast suggest a decline towards 1.3340.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.6985. Today, 22 July 2026, the market is expected to form a consolidation range above this level. An upside breakout could trigger a rally towards 0.7012, while a downside breakout may lead to a decline towards 0.6962.

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 developing a downward wave towards the lower boundary of the Price Envelope at 0.6962. A corrective rebound towards its central line at 0.6995 is expected afterwards.

Technical indicators for today's AUDUSD forecast suggest the downward wave could extend towards 0.6962.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4055, followed by a correction towards 1.4093. Today, 22 July 2026, the market is expected to form a consolidation range around this level. A downside breakout would open the way towards 1.4080, while an upside breakout could extend the upward wave to 1.4138 and potentially to 1.4188.

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 upward wave for USDCAD. The market completed a downward wave to the lower boundary of the Price Envelope at 1.4055, followed by an upward move towards its central line at 1.4093. A consolidation range is expected to develop around this level. A downside breakout would open the way towards 1.4080, while an upside breakout would signal continued upward movement towards its upper boundary at 1.4138.

Technical indicators for today's USDCAD forecast suggest a decline towards 1.4080, followed by the beginning of a rally towards 1.4138.

XAUUSD forecast

On the H4 chart, XAUUSD is developing an upward wave towards 4,140. Today, 22 July 2026, the market is expected to reach this target and begin a downward wave towards 4,044. A rally towards 4,085 may then follow before the downtrend continues to 3,940, 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 downward wave for XAUUSD. The market is developing an upward wave towards the upper boundary of the Price Envelope at 4,140. A decline towards its lower boundary at 3,940 is then expected, followed by a recovery towards its central line at 4,044.

Technical indicators for today's XAUUSD forecast suggest a drop to 3,940.

Brent forecast

On the H4 chart, Brent completed an upward wave to 89.90, followed by a decline to 89.00. Today, 22 July 2026, the market is expected to form a consolidation range around 89.00. A further upward move towards 92.50 is possible, followed by a decline to 89.00. The market will effectively outline the boundaries of the consolidation range around 89.00. A downside breakout could extend the wave to 85.50. A recovery towards 96.50 may then follow, with the uptrend potentially extending to 101.40. An immediate upside breakout would open the way towards 101.40.

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 forming a consolidation range around the upper boundary of the Price Envelope at 89.90. An upward move towards 92.50 is expected, followed by a decline towards its central line at 89.00.

Technical indicators for today's Brent forecast suggest continued growth towards 92.50, followed by the beginning of a decline towards 89.00.

BTCUSD forecast

On the H4 chart, BTCUSD completed an upward wave to 66,800. Today, 22 July 2026, the market is forming a consolidation range around this level. A downside breakout could trigger a decline towards 65,555, while an upside breakout would open the way for a wave towards 67,800.

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 completed an upward wave to the upper boundary of the Price Envelope at 66,800. A decline towards its central line at 65,555 is expected afterwards.

Technical indicators for today's BTCUSD forecast suggest a rise towards at least 67,800.

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