EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 24 February 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 24 February 2025.

EURUSD forecast

On the H4 chart, EURUSD continues developing a growth wave towards 1.0540, which is the first local target. Today, 24 February 2025, this level is expected to be reached. After that, a correction towards 1.0380 is likely. Once the correction is completed, the market may start a new growth wave towards 1.0606.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.0400. This level is considered key for EURUSD. Currently, the market continues moving towards the upper boundary of the price Envelope at 1.0540. Once this level is reached, a correction towards the lower boundary at 1.0380 is expected.

Technical indicators for today's EURUSD forecast suggest a continuation of the growth wave towards 1.0540.

USDJPY forecast

On the H4 chart, USDJPY continues its downward wave towards 148.70. Today, 24 February 2025, this level is expected to be reached. After that, the market may start a growth wave towards 151.40, with the potential to continue towards 153.46.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 153.46. At the moment, the market is moving towards the lower boundary of the price Envelope at 148.70. Once this level is reached, a new upward movement towards the central line of the Envelope at 151.40 is anticipated.

Technical indicators for today's USDJPY forecast suggest the start of a growth wave towards 151.40.

GBPUSD forecast

On the H4 chart, GBPUSD continues its growth wave towards 1.2700. Today, 24 February 2025, this level is expected to be reached, followed by a correction towards 1.2633, with a further potential downward move towards 1.2400.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2500. At the moment, the market is forming an upward movement towards the upper boundary of the price Envelope at 1.2700. After reaching this level, a decline towards the lower boundary at 1.2400 is anticipated.

Technical indicators for today's GBPUSD forecast suggest a continuation of the growth wave towards 1.2700.

AUDUSD forecast

On the H4 chart, AUDUSD completed a downward wave towards 0.6351, followed by a correction to 0.6391. Today, 24 February 2025, the market has almost formed a consolidation range at the top of the growth wave. If the price breaks downward, a correction towards 0.6270 is expected. If the breakout is upward, the market may extend the growth wave towards 0.6444.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix for AUDUSD, with a pivot point at 0.6276. The market has currently moved towards the upper boundary of the price Envelope at 0.6406. The next expected movement is a correction towards the central line at 0.6350.

Technical indicators for today's AUDUSD forecast suggest the probability of a correction towards 0.6350.

USDCAD forecast

On the H4 chart, USDCAD remains in a consolidation range around 1.4244. Today, 24 February 2025, the range may extend downward to 1.4124 before moving up towards 1.4381. If the market breaks out of the range upwards, a growth wave towards 1.4488 is expected. If it breaks downward, the trend may continue towards 1.3988.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.4488. This level is considered key for USDCAD in this wave. Currently, the market is forming a downward wave towards the lower boundary of the price Envelope at 1.4124. Today, reaching this level and then moving towards the upper boundary at 1.4381 is expected.

Technical indicators for today's USDCAD forecast suggest the probability of continued downward movement towards 1.4124.

XAUUSD forecast

On the H4 chart, XAUUSD is forming a consolidation range around 2933. Today, 24 February 2025, a corrective decline towards 2911 is expected. After completing this correction, a new growth wave towards 2966 may start. Later, a more significant correction towards 2844 is possible.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 2844, which is considered key for XAUUSD in this wave. Currently, the market is forming a correction towards the lower boundary of the price Envelope at 2911. Later, a growth wave towards the upper boundary at 2966 is expected. After reaching this level, the price may decline towards the lower boundary at 2844.

Technical indicators for today's XAUUSD forecast suggest the probability of continued correction towards 2911.

Brent forecast

On the H4 chart, Brent is forming a wide consolidation range around 75.00. Today, 24 February 2025, the market may extend downward towards 73.38. After reaching this level, an upward movement towards 76.10 is expected, followed by another potential decline towards 73.10.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 77.40. This level is considered key for Brent. Currently, the market continues consolidating around the central line of the price Envelope. A downward breakout towards the lower boundary at 73.38 is expected. After reaching this level, a growth wave towards the upper boundary at 76.10 may develop.

Technical indicators for today's Brent forecast suggest the probability of a decline towards 73.38.