Daily technical analysis and forecast for 17 August 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 17 August 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair completed an upward wave to 1.1577 before declining to 1.1561. Today, 17 August 2026, the market is forming a consolidation range above this level. An upside breakout would open the way for a rise towards 1.1594, while a downside breakout could trigger a further decline to 1.1500, with the downward wave potentially extending to 1.1455, 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 has formed a consolidation range above the central line of the Price Envelope at 1.1547. An upside breakout would open the way for an upward wave towards 1.1594, while a downside breakout is expected to push the price down to its lower boundary at 1.1455. A breakout below this level could lead to a downward wave towards 1.1400.

Technical indicators for today's EURUSD forecast suggest a rise towards 1.1594, followed by a decline to 1.1500.

USDJPY forecast

On the H4 chart, the USDJPY pair found support at 158.54 and broke above 159.20. Today, 17 August 2026, the market may form a consolidation range around 159.20. A downside breakout could trigger a correction towards 158.00, while an upside breakout would open the way for a further rise towards 159.90, a local target.

Technically, this USDJPY scenario 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 158.88. An upward breakout is expected today, with the upward wave potentially extending towards its upper boundary at 159.90.

Technical indicators for today's USDJPY forecast suggest a rise towards 159.90.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed a downward wave to 1.3525. Today, 17 August 2026, the market is expected to form a consolidation range around this level. An upside breakout could trigger a correction towards 1.3560, followed by a decline to 1.3473, with the downtrend potentially extending to 1.3400, a local target.

Technically, this GBPUSD scenario 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 upper boundary of the Price Envelope at 1.3561. A consolidation range is then expected to form below this level, followed by a potential decline towards 1.3473, with the downtrend potentially extending to 1.3385.

Technical indicators for today's GBPUSD forecast suggest a rise towards 1.3561, followed by the beginning of a downward wave towards 1.3400.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed a downward wave to 0.7077. Today, 17 August 2026, the market is expected to form a consolidation range above this level. An upside breakout would open the door for a rise towards 0.7105, while a downside breakout could send the price down to 0.7063, with the downward wave potentially extending to 0.7020.

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 AUDUSD wave. The market is currently developing an upward wave towards the upper boundary of the Price Envelope at 0.7105, with a consolidation range effectively forming below it. The price could rise to 0.7110. A downward wave towards its lower boundary at 0.7020 is expected next.

Technical indicators for today's AUDUSD forecast suggest growth towards 0.7102, followed by the beginning of a downward wave towards 0.7020.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.3860. Today, 17 August 2026, the market is expected to form a consolidation range above this level. A downside breakout would open the way towards 1.3855, while an upside breakout could trigger an upward wave towards 1.3970, with the rise potentially extending to 1.4040.

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 USDCAD upward wave. The market is currently forming a consolidation range above the lower boundary of the Price Envelope at 1.3860, which could extend downwards to 1.3855. Subsequently, the price could climb to 1.3970.

Technical indicators for today's USDCAD forecast suggest an upward move towards 1.3970 could begin.

XAUUSD forecast

On the H4 chart, XAUUSD completed a downward wave to 4,310. A narrow consolidation range has formed around this level. Today, 17 August 2026, an upside breakout is expected to trigger an upward wave towards 4,472, followed by a decline towards 4,390.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 4,260, a key level in the current XAUUSD downward wave. The market is currently developing an upward wave towards the upper boundary of the Price Envelope at 4,472. A consolidation range is then expected to form below this level. A downside breakout could trigger a correction towards its lower boundary at 4,310, followed by a rise towards its upper boundary at 4,500.

Technical indicators for today's XAUUSD forecast suggest a rise towards 4,472, followed by a decline to 4,310.

US 500 forecast

On the H4 chart, the US 500 completed a downward wave to 7,777. Today, 17 August 2026, the market may form a consolidation range above this level. A downside breakout could trigger a decline to 7,737, while an upside breakout could lead to a rise towards 7,838, followed by a decline to 7,777.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 7,600, a key level in the current US 500 wave. The market is currently forming an upward wave towards the upper boundary of the Price Envelope at 7,838. A downward movement towards its central line at 7,777 is expected next.

Technical indicators for today's US 500 forecast suggest growth towards 7,838.

BTCUSD forecast

On the H4 chart, BTCUSD formed a consolidation range around 63,030. Today, 17 August 2026, an upside breakout is expected to trigger an upward wave towards 63,666. A decline to 62,366 is expected next, with the downward wave potentially extending to 61,500.

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 BTCUSD wave. The market is currently forming a consolidation range around the central line of the Price Envelope at 63,030. An upside breakout towards its upper boundary at 63,666 is expected, followed by a decline towards its lower boundary at 62,366.

Technical indicators for today's BTCUSD forecast suggest an upward move towards 63,666, followed by a decline to 62,366.

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