Daily technical analysis for 23 July 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 23 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave to 1.1428 before declining to 1.1396. Today, 23 July 2026, the market is forming an upward wave towards 1.1438, effectively creating a broad consolidation range around this level. An upside breakout would open the way for a rally towards 1.1500, while a downside breakout would signal continued downward movement towards 1.1325, a local target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.1680, a key level in the EURUSD downward wave. The market is currently forming a consolidation range around the central line of the Price Envelope at 1.1438. An upside breakout would open the door for a continued correction towards its upper boundary at 1.1500. Conversely, a downside breakout would signal the beginning of 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 in line with the prevailing trend.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 162.98 and continues to develop an upward wave. Today, 23 July 2026, the market is expected to advance towards 163.38. A consolidation range may then form below this level. A downward move towards 162.80 is possible, followed by a rally towards 164.15, with the uptrend potentially extending to 164.50. 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 currently forming a consolidation range around 163.00. A downside breakout would pave the way for a decline towards the central line of the Price Envelope at 162.55, while an upside breakout would open the way towards its upper boundary at 163.38.

Technical indicators for today's USDJPY forecast suggest a rally towards 163.38.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed a downward wave, reaching 1.3354. Today, 23 July 2026, the market is expected to form a broad consolidation range around 1.3375, which could extend upwards to 1.3390. A downward wave towards 1.3349 is then expected, with the downtrend potentially extending to 1.3330, 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. Today, the market completed a downward wave to the lower boundary of the Price Envelope at 1.3390. A consolidation range is expected to develop around this level, followed by a downward structure towards 1.3349.

Technical indicators for today's GBPUSD forecast suggest a decline to 1.3349.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.6980. Today, 23 July 2026, the market is expected to form a consolidation range above this level. An upside breakout would open the door for a rally towards 0.7066, while a downside breakout could trigger a decline to 0.6950.

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 forming a downward wave towards the central line of the Price Envelope at 0.6980. A correction towards its upper boundary at 0.7066 is expected next.

Technical indicators for today's AUDUSD forecast suggest the upward wave could continue towards 0.7066.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4063. Today, 23 July 2026, the market is expected to form a consolidation range around this level. A downside breakout would open the way towards 1.4000, while an upside breakout would signal continued upward movement towards 1.4120 and possibly further 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 wave for USDCAD. The market has completed a downward structure towards the central line of the Price Envelope at 1.4063. A consolidation range is expected to develop around this level. A downside breakout would open the way towards 1.4000, while an upside breakout would indicate the continuation of the upward wave towards its upper boundary at 1.4120.

Technical indicators for today's USDCAD forecast suggest growth towards 1.4120.

XAUUSD forecast

On the H4 chart, XAUUSD completed an upward wave to 4,165. Today, 23 July 2026, the market is expected to decline towards 4,075. A rally to 4,120 may follow, before the downtrend continues towards 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 wave for XAUUSD. The market is now forming a downward wave towards the central line of the Price Envelope at 4,075. A rally towards its upper boundary at 4,120 is expected next, followed by a decline to its lower boundary at 3,940.

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

US 500 forecast

On the H4 chart, the US 500 reached 7,531 and declined to 7,490. Today, 23 July 2026, the market is expected to form a consolidation range around this level. A further upward move towards 7,607 is possible, followed by a decline to 7,275. The market will effectively define the boundaries of a consolidation range around this level. A downside breakout could extend the wave to 6,946. A recovery towards 7,100 may then follow, with the upward wave potentially extending to 7,275.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 7,480, a key level in the current wave for US 500. The market is forming a consolidation range around the central line of the Price Envelope at 7,480. An upward move towards its upper boundary at 7,607 is expected, followed by a decline to its lower boundary at 7,425.

Technical indicators for today's US 500 forecast suggest continued growth towards 7,607.

BTCUSD forecast

On the H4 chart, BTCUSD completed a downward wave to 65,555. Today, 23 July 2026, the market is forming a consolidation range around this level. A downside breakout could trigger a further decline to 65,400, while an upside breakout would open the way for a wave towards 67,640.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 63,000, a key level in the current wave for BTCUSD. The market is currently forming an upward wave towards the upper boundary of the Price Envelope at 67,640. A decline towards its central line at 65,400 is expected afterwards.

Technical indicators for today's BTCUSD forecast suggest a rise to at least 67,400.

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