Daily technical analysis and forecast for 28 July 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 28 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed a downward wave to 1.1370. Today, 28 July 2026, the market is forming a consolidation range around this level. An upside breakout would open the way for a rally towards 1.1400. Alternatively, a downside breakout could extend the downtrend to 1.1330 and possibly further to 1.1313, 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 is currently forming a consolidation range around the central line of the Price Envelope at 1.1410. A downside breakout is expected to trigger a decline towards its lower boundary at 1.1330.

Technical indicators for today's EURUSD forecast suggest a decline to 1.1330.

USDJPY forecast

On the H4 chart, the USDJPY pair broke above 163.70 and continues to develop a consolidation range around this level. Today, 28 July 2026, the market is expected to rise towards 164.15. A consolidation range may then form below this level. A downward move to 163.30 is possible, followed by a rally towards 164.50, with the uptrend potentially extending to 164.90. 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 now forming a consolidation range around 163.70. A downside breakout would open the way towards the central line of the Price Envelope at 163.30, while an upside breakout would pave the way for a move to its upper boundary at 164.15.

Technical indicators for today's USDJPY forecast suggest a rally towards 164.15.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed an upward wave to 1.3363 and began a new downward wave. Today, 28 July 2026, the market is expected to begin a decline towards 1.3270, with the downtrend potentially extending to 1.3190, 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 is forming a downward wave towards the lower boundary of the Price Envelope at 1.3270. A consolidation range is then expected to develop above this level, followed by a rally towards 1.3330.

Technical indicators for today's GBPUSD forecast suggest a decline to 1.3270.

AUDUSD forecast

On the H4 chart, the AUDUSD pair is developing a downward wave towards 0.6955. Today, 28 July 2026, the market is expected to stage a correction towards 0.6990, effectively forming a consolidation range around this level. An upside breakout would open the door for growth towards 0.7010, while a downside breakout could trigger a decline to 0.6930.

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 consolidation range around the central line of the Price Envelope at 0.6990. A decline towards its lower boundary at 0.6955 is expected next.

Technical indicators for today's AUDUSD forecast suggest the downward wave could continue towards 0.6955.

USDCAD forecast

On the H4 chart, the USDCAD pair completed an upward wave to 1.4121. Today, 28 July 2026, the market is expected to form a consolidation range around this level. A downside breakout would open the way for a decline to 1.4000, while an upside breakout could extend the upward wave to 1.4160, with the potential for a further advance 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 an upward wave to the upper boundary of the Price Envelope at 1.4121. A consolidation range is expected to develop around this level. A downside breakout would open the way towards its lower boundary at 1.4000, while an upside breakout could extend the upward wave towards its upper boundary at 1.4188.

Technical indicators for today's USDCAD forecast suggest a rally towards 1.4188.

XAUUSD forecast

On the H4 chart, XAUUSD completed a downward wave to 4,035. Today, 28 July 2026, the market is forming a consolidation range around this level. The decline is expected to continue towards 3,956, followed by a rebound to 4,035 and a further decline to 3,917, 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 has completed a decline to the central line of the Price Envelope at 4,033. A consolidation range is expected to develop above this level. A downside breakout would open the way towards its lower boundary at 3,917.

Technical indicators for today's XAUUSD forecast suggest a drop to 3,917.

US 500 forecast

On the H4 chart, the US 500 completed a downward wave, reaching 7,400. Today, 28 July 2026, the market may form a consolidation range around this level. A rebound towards 7,450 cannot be ruled out, followed by a decline to 7,320.

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 now forming a consolidation range around the central line of the Price Envelope at 7,400. A decline towards its lower boundary at 7,320 is expected.

Technical indicators for today's US 500 forecast suggest a further decline towards 7,320.

BTCUSD forecast

On the H4 chart, BTCUSD completed an upward wave to 65,650 before declining to 63,070. Today, 28 July 2026, the market is forming a consolidation range around this level. A downside breakout could trigger a decline to 60,750, while an upside breakout would open the door for a move towards 64,400.

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 developing a downward wave towards the lower boundary of the Price Envelope at 60,750. A rally towards its upper boundary at 64,400 is expected next.

Technical indicators for today's BTCUSD forecast suggest a decline to at least 60,750.

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