Daily technical analysis and forecast for 4 August 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 4 August 2026.

EURUSD forecast

On the EURUSD H4 chart, the market completed a downward wave to 1.1500. Today, 4 August 2026, a consolidation range is forming above this level. An upward breakout would open the potential for growth towards 1.1534, while a downward breakout could continue the downtrend to 1.1480 and possibly further to 1.1400, 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 EURUSD downward wave structure. The market has currently formed a consolidation range below the upper boundary of the Price Envelope at 1.1556. A downward breakout from this range is forming a downward wave towards its central line at 1.1480. If this level is also broken, a decline to 1.1400 is expected.

Technical indicators for today's EURUSD forecast suggest a drop to 1.1480.

USDJPY forecast

On the USDJPY H4 chart, the market broke above 157.18 and completed an upward wave to 157.70. Today, 4 August 2026, a downward move to 156.30 is expected. A consolidation range could then form above this level, potentially expanding towards 158.66 and then 159.66.

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 the lower boundary of the Price Envelope at 156.20. An upward breakout is expected today, with growth potential towards its upper boundary at 159.60.

Technical indicators for today's USDJPY forecast suggest growth towards 159.60.

GBPUSD forecast

On the GBPUSD H4 chart, the market completed a downward wave structure, reaching 1.3418. Today, 4 August 2026, a consolidation range is expected to form around this level. An upward breakout could trigger a corrective move towards 1.3444, followed by a decline to 1.3380, with the potential for the trend to continue to a local target of 1.3300.

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, a downward wave is forming towards the central line of the Price Envelope at 1.3380. A consolidation range is then expected to develop above this level, followed by a downward structure towards 1.3300.

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

AUDUSD forecast

On the AUDUSD H4 chart, the market completed a downward wave to 0.6984 and an upward wave to 0.7022. Today, 4 August 2026, a consolidation range is expected to form below this level. An upward breakout would open the door for growth towards 0.7045, while a downward breakout could push the price lower to 0.6933.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.7200, a key level in the current wave. The market has completed an upward wave to the upper boundary of the Price Envelope at 0.7049. Today, a consolidation range is forming below it. A downward wave towards its lower boundary at 0.6933 is expected to begin.

Technical indicators for today's AUDUSD forecast suggest a downward wave could begin, aiming for 0.6933.

USDCAD forecast

On the USDCAD H4 chart, the market completed a downward wave to 1.4003 and an upward wave to 1.4052. Today, 4 August 2026, a consolidation range is expected to develop around this level. A downward breakout would open the way towards 1.4024, while an upward breakout could extend the upward wave towards 1.4066 and possibly further to 1.4136.

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 wave structure to the lower boundary of the Price Envelope at 1.4003. A consolidation range is then expected to form around this level. A downward breakout would open the potential for a wave to 1.4000. Alternatively, an upward breakout could lead to continued upward movement towards its central line at 1.4066.

Technical indicators for today's USDCAD forecast suggest growth towards 1.4066.

XAUUSD forecast

On the XAUUSD H4 chart, the market completed an upward wave to 4,068. Today, 4 August 2026, a consolidation range is forming below this level. The downward wave is expected to continue to 3,988, followed by growth towards 4,040. The downtrend could then extend to 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 this wave for XAUUSD. The market has completed an upward wave to the central line of the Price Envelope at 4,068. A consolidation range is then expected to develop below it. A downward breakout could lead to a decline towards its lower boundary at 3,960.

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

US 500 forecast

On the US 500 H4 chart, the market broke above the consolidation range and completed an upward wave structure to 7,625. Today, 4 August 2026, the upward move could continue towards 7,660. A decline to 7,533 is then expected.

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 upper boundary of the Price Envelope at 7,600, with growth expected to continue towards 7,660.

Technical indicators for today's US 500 forecast suggest continued growth towards 7,660.

BTCUSD forecast

On the H4 chart of BTCUSD, the market completed a downward wave to 63,300. Today, 4 August 2026, a consolidation range is forming above this level. A downward breakout could lead to a decline to 62,750, while an upward breakout would open the way 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 now forming a consolidation range around the central line of the Price Envelope. Growth towards its upper boundary at 64,400 is expected, followed by a decline towards its lower boundary at 61,550.

Technical indicators for today's BTCUSD forecast suggest a decline to 61,550.

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