EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 6 March 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 6 March 2025.

EURUSD forecast

On the H4 chart, EURUSD completed a growth wave up to 1.0819. Today, 6 March 2025, the first impulse of a downward wave towards 1.0600 is forming, with this as the initial target. Once reached, a correction towards 1.0690 is expected.

Technically, this scenario is supported by the Elliott wave structure and the growth wave matrix, with 1.0406 as the pivot level for EURUSD. The market recently moved up to the upper boundary of the price Envelope at 1.0819. The next move is expected to be a decline towards its central line at 1.0600.

Technical indicators suggest a likely drop to 1.0600.

USDJPY forecast

On the H4 chart, USDJPY completed a growth wave to 150.17 and corrected down to 148.44. Today, 6 March 2025, another growth wave towards 150.55 is anticipated. If 150.55 is breached, the upward move could extend to 152.60.

Technically, this outlook is confirmed by the Elliott wave structure and the downward wave matrix, with 154.58 as the pivot level. The market recently tested the lower boundary of the price Envelope at 148.10. The next move is expected to be an upward wave towards 152.60.

Technical indicators support further growth to 152.60.

GBPUSD forecast

On the H4 chart, GBPUSD completed a growth wave to 1.2906. Today, 6 March 2025, the pair is forming an impulse of a downward wave towards 1.2717, which is the initial target. A correction to 1.2810 is expected afterwards.

Technically, this scenario is backed by the Elliott wave structure and the growth wave matrix, with 1.2555 as the pivot level. The market recently tested the upper boundary of the price Envelope at 1.2906. The next expected move is a decline towards the central line at 1.2717.

Technical indicators suggest a decline towards 1.2717.

AUDUSD forecast

On the H4 chart, AUDUSD completed a correction to 0.6350. Today, 6 March 2025, the pair is forming an impulse of a downward wave towards 0.6210. After reaching this level, a correction to 0.6280 may follow, with a potential continuation of the trend towards 0.6060.

Technically, this is confirmed by the Elliott wave structure and the declining wave matrix, with 0.6210 as the pivot level. The market recently tested the upper boundary of the price Envelope at 0.6350. The next expected move is a drop towards the lower boundary at 0.6210.

Technical indicators support a drop to 0.6210.

USDCAD forecast

On the H4 chart, USDCAD completed a correction to 1.4312 and is now forming the first impulse of a growth wave towards 1.4520. If the 1.4520 level is broken, the trend may continue to 1.4728, which is the local target.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 1.4520, which serves as a key level for the currency pair. The market declined to the central line of the price Envelope at 1.4312 and is now expected to continue rising towards its upper boundary at 1.4510.

Technical indicators suggest a continuation of the growth wave towards 1.4510.

XAUUSD forecast

On the H4 chart, XAUUSD executed a growth wave to 2,930. Today, 6 March 2025, the price is expected to correct down to 2,880 before another potential growth wave back to 2,930. If 2,930 is broken, the uptrend may continue towards 2,974, which is the local target.

Technically, this scenario aligns with the Elliott wave structure and the growth wave matrix, with a pivot point at 2,880, which is seen as the key level for XAUUSD. The market reached the upper boundary of the price Envelope at 2,930, and a pullback towards the central line at 2,880 is expected before another growth attempt towards 2,974.

Technical indicators suggest the beginning of a correction towards 2,880.

Brent forecast

On the H4 chart, Brent completed a decline towards 68.20. Today, 6 March 2025, a rise towards 73.33 is expected. After reaching this level, a correction towards 71.15 is anticipated, forming a consolidation range around 71.15. If the price breaks downward, the trend may extend towards 65.85, while an upward breakout may lead to 78.00.

Technically, this scenario aligns with the Elliott wave structure and the declining wave matrix, with a pivot point at 73.33. The market has reached the lower boundary of the price Envelope at 68.20. The next expected move is a rise towards the upper boundary at 73.33.

Technical indicators suggest a potential rise towards 73.33.