Daily technical analysis and forecast for 31 July 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 31 July 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave to 1.1535. Today, 31 July 2026, the market is forming a consolidation range below this level. An upside breakout would open the way for a rally towards 1.1565, while a downside breakout could signal the continuation of the downtrend towards 1.1420, with the downward wave potentially extending to 1.1260, 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 upper boundary of the Price Envelope at 1.1535. An upside breakout could extend the upward wave towards 1.1565, followed by a decline towards its central line at 1.1420. If the market breaks down immediately, a downward wave towards 1.1420 is expected.

Technical indicators for today's EURUSD forecast suggest a decline towards 1.1420.

USDJPY forecast

On the H4 chart, the USDJPY pair broke below 163.20 and completed a downward wave to 157.90. Today, 31 July 2026, the market is expected to rebound towards 160.84. A consolidation range may then form below this level and subsequently expand upwards to 161.40 and downwards to 156.90.

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 the central line of the Price Envelope at 160.40. A downside breakout would open the door for a decline towards its lower boundary at 156.90, while an upside breakout would pave the way for a move towards its upper boundary at 161.40.

Technical indicators for today's USDJPY forecast suggest a rally towards 161.40.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed an upward wave to 1.3470. Today, 31 July 2026, the market is expected to begin a downward wave towards 1.3300, with the downtrend potentially extending to 1.3130, a local target.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the 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 central line of the Price Envelope at 1.3300. A consolidation range is then expected to develop above this level, followed by a potential downward structure towards 1.3130.

Technical indicators for today's GBPUSD forecast suggest a downward wave towards 1.3300.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed an upward wave to 0.7030. Today, 31 July 2026, the market is expected to form a consolidation range below this level. An upside breakout would open the door for a rally towards 0.7037, while a downside breakout could trigger a decline to 0.6920.

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 has completed an upward wave to the upper boundary of the Price Envelope at 0.7030 and is now forming a consolidation range below it. A downward wave towards its lower boundary at 0.6920 is expected next.

Technical indicators for today's AUDUSD forecast suggest a downward wave towards 0.6920.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.3990. Today, 31 July 2026, the market is expected to form a consolidation range around this level. A downside breakout would open the way towards 1.3940, while an upside breakout could trigger a rally towards 1.4055 and possibly further to 1.4120.

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 lower boundary of the Price Envelope at 1.3990. A consolidation range is expected to form around this level. A downside breakout would open the way towards 1.3940, while an upside breakout would signal continued upward movement towards its central line at 1.4055.

Technical indicators for today's USDCAD forecast suggest a rise towards 1.4055.

XAUUSD forecast

On the H4 chart, XAUUSD completed an upward wave to 4,117. Today, 31 July 2026, the market is forming a consolidation range below this level. The downward wave is expected to extend towards 4,044, followed by a rally to 4,080 and a continued downward move towards 3,960, 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 an upward wave to the central line of the Price Envelope at 4,117. A consolidation range is expected to develop below this level. A downside breakout would open the way for a decline towards its lower boundary at 3,960.

Technical indicators for today's XAUUSD forecast suggest a decline to 3,960.

US 500 forecast

On the H4 chart, the US 500 completed an upward wave to 7,390. Today, 31 July 2026, the market is expected to form a consolidation range around this level. An upside breakout would open the way for a rally towards 7,490, followed by a decline to 7,395.

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 above the central line of the Price Envelope at 7,395. A rally towards its upper boundary at 7,490 is expected.

Technical indicators for today's US 500 forecast suggest continued growth towards 7,490.

BTCUSD forecast

On the H4 chart, BTCUSD completed a downward wave to 64,255. Today, 31 July 2026, the market is forming a consolidation range above this level. A downside breakout could trigger a decline to 63,730, while an upside breakout would push the price higher towards 65,700.

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 a downward wave towards the central line of the Price Envelope at 64,255. A rally towards its upper boundary at 65,700 is expected next.

Technical indicators for today's BTCUSD forecast suggest a rise towards 65,700.

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