EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 5 March 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 5 March 2025.

EURUSD forecast

On the H4 chart, EURUSD formed a consolidation range around 1.0497 and broke upwards, executing a growth wave to 1.0635. Today, 5 March 2025, the potential of this wave has been nearly exhausted. A new consolidation range is forming at the highs. If the price breaks downward, a correction to 1.0497 may develop, followed by a trend continuation to 1.0418.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 1.0497. The market has reached the upper boundary of the price Envelope at 1.0635. A correction towards the central line at 1.0497 is likely.

Technical indicators suggest a potential decline towards 1.0497.

USDJPY forecast

On the H4 chart, USDJPY completed a decline to 148.10 and formed an impulse growth to 150.17. The market continues to consolidate around 149.85, and an expansion to 151.60 is expected.

Technically, this scenario aligns with the Elliott wave structure and the declining wave matrix, with a pivot point at 154.58. The market has declined to the lower boundary of the price Envelope at 148.10 and is now expected to rise towards 151.60.

Technical indicators suggest further growth towards 151.60.

GBPUSD forecast

On the H4 chart, GBPUSD executed a growth wave to 1.2716 and entered consolidation. A breakout above this range may trigger further growth towards 1.2872. After reaching this level, a correction to 1.2555 is expected.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 1.2555. The market is moving towards the upper boundary of the price Envelope at 1.2872.

Technical indicators suggest further growth towards 1.2872.

AUDUSD forecast

On the H4 chart, AUDUSD is consolidating around 0.6210. Today, 4 March 2025, if the price breaks downward, a decline towards 0.6100 may follow. If the price breaks upward, a correction towards 0.6300 is expected.

Technically, this scenario aligns with the Elliott wave structure and the declining wave matrix, with a pivot point at 0.6300. The market has reached the lower boundary of the price Envelope at 0.6191 and is consolidating. A breakout upwards may lead to a correction towards 0.6300, while a breakout downward may trigger a decline towards 0.6100.

Technical indicators suggest a continued decline towards 0.6100.

USDCAD forecast

On the H4 chart, USDCAD executed a growth wave to 1.4540 and is now forming a consolidation range below it. A correction to 1.4333 is expected before another growth wave towards 1.4715.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 1.4333. The market reached the upper boundary of the price Envelope at 1.4540, and a correction towards 1.4333 is likely before the next growth impulse.

Technical indicators suggest a correction towards 1.4333.

XAUUSD forecast

On the H4 chart, XAUUSD is consolidating around 2,900. Today, 5 March 2025, the price is expected to break upwards towards 2,974. After reaching this level, a correction to 2,900 is likely before the next wave of growth to 3,050.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 2,900. The market is moving towards the upper boundary of the price Envelope at 2,974, and after a pullback to 2,900, another growth wave towards 3,050 is expected.

Technical indicators suggest further growth towards 2,974.

Brent forecast

On the H4 chart, Brent declined to 69.66 and is now expected to rise to 73.33 as the first target. After reaching this level, a correction to 71.55 may follow, with a possible next growth wave to 75.55.

Technically, this scenario aligns with the Elliott wave structure and the declining wave matrix, with a pivot point at 73.33. The market declined to the lower boundary of the price Envelope at 69.66 and is expected to rise towards 73.33, with a possible further extension to 75.55.

Technical indicators suggest an upward move towards 73.33.