Daily technical analysis and forecast for 5 August 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 5 August 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed a downward wave towards 1.1500. Today, 5 August 2026, an upward wave is forming towards 1.1539. This will effectively establish the boundaries of a consolidation range around 1.1520. An upside breakout would open the door for growth to 1.1557, while a downside breakout could push the price further down to 1.1470, with the wave potentially extending to 1.1400, a local target.

Technically, this scenario is confirmed by the indicated 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 formed a consolidation range below the upper boundary of the Price Envelope at 1.1557. If the price breaks below this range, a downward wave towards the central line of the Price Envelope at 1.1470 is expected. A further downward breakout of this level would signal a downward wave towards 1.1400.

Technical indicators for today's EURUSD forecast suggest a decline towards 1.1470.

USDJPY forecast

On the H4 chart, the USDJPY pair has broken above 157.17 and is headed towards 158.12. Today, 5 August 2026, a corrective decline to 157.20 is possible. A consolidation range could then form above this level, potentially expanding upwards to 159.10 and then 160.50.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level in the current wave. At present, the market is forming a consolidation range around the lower boundary of the Price Envelope at 157.20. An upward breakout is expected today, with the growth potential extending towards its upper boundary at 159.10.

Technical indicators for today's USDJPY forecast suggest growth towards 159.10.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed a downward wave to 1.3418. Today, 5 August 2026, a consolidation range is expected to form around this level. An upward breakout could trigger a corrective movement towards 1.3460. A decline to 1.3380 could then follow, with the potential for the trend to continue towards 1.3350, a local target.

Technically, this scenario for GBPUSD is confirmed by the indicated 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 potential decline towards 1.3300.

Technical indicators for today's GBPUSD forecast suggest a downward wave may begin, targeting 1.3350.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.6984 and an upward wave to 0.7055. Today, 5 August 2026, a consolidation range is expected to form below this level. An upward breakout would pave the way for growth towards 0.7070, while a breakout below the range could trigger a downward wave towards 0.6939.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the AUDUSD downward wave matrix with a pivot point at 0.7200, a key level in the current wave. The market has completed an upward wave towards the upper boundary of the Price Envelope at 0.7055. Today, a consolidation range is forming below it. A downward wave towards the lower boundary of the Price Envelope at 0.6939 is expected to begin.

Technical indicators for today's AUDUSD forecast suggest a downward wave towards 0.6939.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4040 and an upward wave to 1.4079. Today, 5 August 2026, a consolidation range is expected to develop below this level. A downward breakout could extend the wave towards 1.4040. Alternatively, an upward breakout could open the way for continued growth towards 1.4080 and possibly further to 1.4100.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 1.3629, a key level in this upward wave for USDCAD. The market is currently forming a consolidation range around the central line of the Price Envelope at 1.4045. An upward breakout is expected, followed by further growth towards the upper boundary of the Price Envelope at 1.4080.

Technical indicators for today's USDCAD forecast suggest a rise towards 1.4080.

XAUUSD forecast

On the H4 chart, XAUUSD is developing an upward wave towards 4,142. Today, 5 August 2026, a consolidation range is expected to form below this level. The downward wave could then extend to 4,050, followed by growth towards 4,100. Subsequently, the downtrend is expected to continue to a local target of 3,944.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 4,550, a key level in this downward wave for XAUUSD. The market has completed an upward wave towards the upper boundary of the Price Envelope at 4,142. A consolidation range is expected to develop below it. If the price breaks below the range, a decline towards the lower boundary of the Price Envelope at 3,944 could follow.

Technical indicators for today's XAUUSD forecast suggest a drop to 3,944.

US 500 forecast

On the H4 chart, the US 500 broke above the consolidation range and is developing an upward wave towards 7,817. Today, 5 August 2026, the price could reach this target level. A decline to 7,533 is then expected.

Technically, this scenario is confirmed by the indicated 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 forming an upward wave towards the upper boundary of the Price Envelope at 7,817. A corrective movement to 7,660 is then expected.

Technical indicators for today's US 500 forecast suggest continued growth towards 7,817.

BTCUSD forecast

On the H4 chart, BTCUSD formed a consolidation range around 63,780. Today, 5 August 2026, the market has broken above the range and continues to develop an upward wave towards 65,222. After reaching this level, the price is expected to dip towards 63,780.

Technically, this scenario is confirmed by the indicated 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 consolidation range around the central line of the Price Envelope. The price is expected to rise to its upper boundary at 65,222 before declining towards its lower boundary at 61,550.

Technical indicators for today's BTCUSD forecast suggest growth towards 65,222, followed by the beginning of a decline to 61,550.

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