EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 12 March 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 12 March 2025.

EURUSD forecast

On the H4 chart, EURUSD continues to develop a consolidation range around 1.0833. Today, 12 March 2025, the range extends upwards to 1.0944. A downward structure is forming towards 1.0800. Later, a growth wave to 1.0833 (testing from below) is expected. If the range breaks down, a downward wave to 1.0640 may begin. After reaching this level, a correction to 1.0760 is likely.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.0660, which is considered key for EURUSD. The market has already completed a growth wave to the upper boundary of the price Envelope at 1.0944. A downward wave towards 1.0640 is anticipated.

Technical indicators for today's EURUSD forecast suggest the probability of a decline to 1.0640.

USDJPY forecast

On the H4 chart, USDJPY continues its growth wave towards 148.38. Today, 12 March 2025, this target level is expected to be reached. A correction to 147.50 is anticipated after that. A further growth wave to 150.20 is likely thereafter.

Technically, this scenario for USDJPY is supported by the Elliott wave structure and the downward wave matrix with a pivot point at 154.58. The market has completed a downward wave to the lower boundary of the price Envelope at 146.54. After reaching this level, a consolidation range is forming. A growth wave to the upper boundary of the Envelope at 150.85 is expected.

Technical indicators for today's USDJPY forecast suggest the probability of a growth wave to 150.85.

GBPUSD forecast

On the H4 chart, GBPUSD continues to develop a consolidation range around 1.2911. At the moment, the range extends upwards to 1.2963. Today, 12 March 2025, the range is expected to expand down to 1.2855. Later, a growth wave to 1.2911 (testing from below) is likely. If the range breaks down, the first downward wave to 1.2717 will begin. After reaching this level, a correction to 1.2850 is expected.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2717. The market has completed a growth wave to the upper boundary of the price Envelope at 1.2963. A downward wave towards 1.2717 is expected.

Technical indicators for today's GBPUSD forecast suggest the probability of a decline to 1.2717.

AUDUSD forecast

On the H4 chart, AUDUSD continues its downward wave towards 0.6245. Today, 12 March 2025, this target level is expected to be reached. Later, a growth wave to 0.6280 may follow. After that, a decline to 0.6210 is expected. After reaching this level, a correction to 0.6280 is possible. Further continuation of the trend towards 0.6060 is expected.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix for AUDUSD, with a pivot point at 0.6210. The market has completed a growth wave to the upper boundary of the price Envelope at 0.6360. A downward wave towards 0.6210 is anticipated.

Technical indicators for today's AUDUSD forecast suggest the probability of a decline to 0.6210.

USDCAD forecast

On the H4 chart, USDCAD completed a downward wave to 1.4239 and a growth wave to 1.4466. The consolidation range is now defined at the lows of the downward wave. Today, 12 March 2025, the range is expected to extend down to 1.4220. After reaching this level, a growth wave to 1.4520 is likely. If this level is broken, a further trend continuation to 1.4728 is expected.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.4520, which is considered key for USDCAD. The market is currently in a corrective structure towards the lower boundary of the price Envelope at 1.4220. After reaching this level, a growth wave to 1.4520 is expected.

Technical indicators for today's USDCAD forecast suggest the probability of a continuation of the growth to 1.4520.

XAUUSD forecast

On the H4 chart, XAUUSD completed a growth wave to 2,922. Today, 12 March 2025, a narrow consolidation range is expected to form below this level. If the range breaks upwards, a continuation to 2,980 is likely. A downward correction to 2,900 may occur, followed by another growth wave to 2,980.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 2,880, considered key for XAUUSD. The market has completed a correction to the central line of the price Envelope at 2,880. A growth wave towards the upper boundary at 2,930 is anticipated, followed by a potential continuation to 2,980.

Technical indicators for today's XAUUSD forecast suggest the probability of a growth wave to 2,980.

Brent forecast

On the H4 chart, Brent is forming a consolidation range around 69.85. Today, 12 March 2025, the range is expected to extend upwards to 71.55. After that, a correction to 69.85 is likely. Further growth towards 73.33 is expected.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 73.33, which is considered key for Brent. The market is currently in a downward wave towards the lower boundary of the price Envelope at 68.00. A growth wave towards 73.33 is anticipated.

Technical indicators for today's Brent forecast suggest the probability of a growth wave to 73.33.