EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent technical analysis and forecast for 21 February 2025

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 21 February 2025.

EURUSD forecast

On the H4 chart, EURUSD has completed a growth wave to 1.0470. Today, 21 February 2025, a compact consolidation range has formed around this level. With an upward breakout, the market has opened the potential for further growth towards 1.0544. This is the first local target. After reaching this level, a downward correction towards 1.0385 is expected.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.0413. This level is considered key for EURUSD. At the moment, the market continues developing a growth wave towards the upper boundary of the price Envelope at 1.0544. After reaching this level, a correction towards its lower boundary at 1.0385 is expected.

Technical indicators for today's EURUSD forecast suggest a continuation of the growth wave towards 1.0544.

USDJPY forecast

On the H4 chart, USDJPY has completed a decline to 149.26 and executed an impulse growth wave to 150.40. Currently, a consolidation range is forming around this level. If the market breaks upward, the next target is 151.40. This is the first calculated target. After reaching this level, a correction back to 150.40 is possible. If the market moves downward, a correction towards 148.80 could occur. In the longer term, an extended growth wave towards 151.40 is expected, with the possibility of further continuation to 153.46.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 153.46. Currently, the market has completed a decline to the lower boundary of the price Envelope at 149.26. After finding support at this level, an impulse growth wave towards 150.40 has been formed. The market is now expected to develop a structure for the first wave of growth towards the central line of the Envelope at 151.40.

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

GBPUSD forecast

On the H4 chart, GBPUSD found support at 1.2565 and exited its consolidation range upwards. This has practically opened the potential for a further growth wave towards 1.2697. Today, 21 February 2025, this target level is expected to be reached, followed by a decline to 1.2633. A continued correction towards 1.2507 is also possible before a new growth wave towards 1.2767 begins.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 1.2500. Currently, the market is forming a growth wave towards the upper boundary of the price Envelope at 1.2670. After reaching this level, a decline towards the lower boundary at 1.2507 is anticipated.

Technical indicators for today's GBPUSD forecast suggest a continuation of the growth wave towards 1.2697.

AUDUSD forecast

On the H4 chart, AUDUSD found support at 0.6327 and, after exiting the consolidation range upwards, continues developing a growth wave towards 0.6444. Today, 21 February 2025, this target level is expected to be reached. Afterwards, a decline towards 0.6350 is likely, with a further correction down to 0.6222.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix for AUDUSD, with a pivot point at 0.6276. Currently, the market continues developing a growth wave towards the upper boundary of the price Envelope at 0.6444. In the future, a correction towards the central line at 0.6350 is expected.

Technical indicators for today's AUDUSD forecast suggest the probability of growth towards 0.6444.

USDCAD forecast

On the H4 chart, USDCAD has completed a decline to 1.4175. Today, 21 February 2025, a consolidation range is forming around this level. If the market breaks downward, a further decline towards 1.4111 is expected. If an upward breakout occurs, a growth wave towards 1.4310 may develop, with the possibility of continuation towards 1.4485.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.4488, considered a key level for USDCAD in this wave structure. Currently, the market is forming a decline towards the lower boundary of the price Envelope at 1.4111. Today, this target level is expected to be reached before a potential growth wave towards the upper boundary at 1.4485.

Technical indicators for today's USDCAD forecast suggest the probability of a continued decline towards 1.4111.

XAUUSD forecast

On the H4 chart, XAUUSD has completed a growth wave towards 2,954. Today, 21 February 2025, a corrective decline towards 2,891 is expected. After completing this correction, another growth wave towards 2,966 is likely. A more significant correction towards 2,844 may follow.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 2,844, considered a key level for XAUUSD in this wave. Currently, the market is forming a correction towards the lower boundary of the price Envelope at 2,891. After reaching this level, a growth wave towards the upper boundary at 2,966 is likely. Once 2,966 is reached, a decline towards the lower boundary at 2,844 is possible.

Technical indicators for today's XAUUSD forecast suggest the probability of a corrective decline towards 2,891.

Brent forecast

On the H4 chart, Brent has completed a growth wave to 76.74. Today, 21 February 2025, a correction towards 75.75 is expected. After reaching this level, a new growth wave towards 77.93 is likely, with a potential continuation towards 78.23 as the first target.

Technically, this scenario is confirmed by the Elliott wave structure and the growth wave matrix with a pivot point at 76.06, considered a key level for Brent. Currently, the market continues consolidating around the central line of the price Envelope. A breakout to the upside towards 77.93 is expected. After reaching this level, a decline towards the central line at 76.06 is possible.

Technical indicators for today's Brent forecast suggest the probability of a growth wave towards 77.93.