Daily technical analysis and forecast for 29 July 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 29 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed a downward wave to 1.1352. Today, 29 July 2026, the market is forming a consolidation range above this level. An upside breakout would open the way for a rally towards 1.1410, while a downside breakout could signal continued downward movement towards 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 downward wave for EURUSD. The market has formed a consolidation range around the central line of the Price Envelope at 1.1410. A downside breakout is expected to trigger a downward wave towards its lower boundary at 1.1330.

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

USDJPY forecast

On the H4 chart, the USDJPY pair broke above 163.63 and continues to form a consolidation range around this level. Today, 29 July 2026, the market is expected to decline towards 163.30, with a consolidation range likely to form above this level later. A further downward move to 163.20 is possible, followed by a rally towards 164.15, 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 currently forming a consolidation range around 163.63. 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 wave towards 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 a downward wave structure to 1.3272. Today, 29 July 2026, the market is expected to begin an upward wave towards 1.3330, with the trend potentially extending to 1.3377. A decline to 1.3200 may follow. This is 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 an upward wave towards the central line of the Price Envelope at 1.3330. A consolidation range is then expected to develop above this level, followed by a potential upward structure towards 1.3377.

Technical indicators for today's GBPUSD forecast suggest an upward wave towards 1.3377.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.6937. Today, 29 July 2026, the market is expected to begin advancing towards 0.6990, effectively forming a consolidation range around this level. An upside breakout would open the door for a rally towards 0.7010, while a downside breakout could trigger a decline to 0.6925.

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. The market has completed a downward wave to the lower boundary of the Price Envelope at 0.6926 and is now forming a consolidation range above it. An upward wave towards its central line at 0.6990 is expected next.

Technical indicators for today's AUDUSD forecast suggest an upward wave towards 0.6990.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4089. Today, 29 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 could signal the continuation of the upward wave towards 1.4133 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 upward wave for USDCAD. The market has completed a downward wave structure towards the central line of the Price Envelope at 1.4089. 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 signal the continuation of the upward wave towards its upper boundary at 1.4133.

Technical indicators for today's USDCAD forecast suggest a rise towards 1.4133.

XAUUSD forecast

On the H4 chart, XAUUSD completed a downward wave to 4,004. Today, 29 July 2026, the market is forming a consolidation range above this level. The downward wave is expected to continue towards 3,956, followed by a rally to 4,004 and then 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 downward wave for XAUUSD. The market has completed a downward wave to the central line of the Price Envelope at 4,004. 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 structure to 7,412. Today, 29 July 2026, the market may form a consolidation range around this level. A rebound towards 7,440 is possible, 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 the US 500. The market is currently 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 continued decline to 7,320.

BTCUSD forecast

On the H4 chart, BTCUSD completed a downward wave to 62,800. Today, 29 July 2026, the market is forming a consolidation range around this level. A downside breakout could push the price down to 60,750, while an upside breakout would open the way towards 64,640.

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. The market is currently developing a downward wave towards the lower boundary of the Price Envelope at 62,800. A rally towards its upper boundary at 64,640 is expected next.

Technical indicators for today's BTCUSD forecast suggest growth towards at least 64,640.

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