Daily technical analysis and forecast for 5 March 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, and Brent for 5 March 2026.

EURUSD forecast

On the H4 chart of the EURUSD pair, the market is forming a consolidation range around 1.1590. Today, 5 March 2026, an upside breakout from the range would open the potential for a wave towards 1.1666, while a downside breakout could trigger a decline to 1.1500. Subsequently, a corrective move to 1.1666 (retesting from below) is possible, followed by a potential decline to 1.1400, a local target. Later, a correction towards 1.1700 could occur.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix with a pivot point at 1.1666. It is regarded as key within the structure of the downward wave for EURUSD. At the moment, the market continues to develop a consolidation range around the central line of the Price Envelope at 1.1590, with a downward move to 1.1500 expected today.

Technical indicators for today’s EURUSD forecast suggest that the wave could continue to 1.1500.

USDJPY forecast

On the H4 chart of the USDJPY pair, the market completed a downward wave to 156.44. Today, 5 March 2026, an upward wave to 158.35 is expected, potentially followed by a downward wave towards 155.25.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 155.25. It is regarded as key within this wave structure. At the moment, the market is forming a consolidation range above the central line of the Price Envelope at 156.44, which could expand upwards to 158.35. Thereafter, the pair could drop to the lower boundary at 155.25.

Technical indicators for today’s USDJPY forecast suggest potential growth to 158.35.

GBPUSD forecast

On the H4 chart of the GBPUSD pair, the market continues to form a consolidation range around 1.3330. Today, 5 March 2026, the pair is expected to break below the range, aiming for 1.3131. After reaching this level, the price could enter a correction, targeting 1.3420. Then a decline to 1.2917 is expected.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.3400. It is regarded as key within this wave structure. Today, a downward wave could develop towards the lower boundary of the Price Envelope at 1.3131. Subsequently, an upward move to its central line at 1.3410 might follow before the downward wave continues to 1.3153.

Technical indicators for today’s GBPUSD forecast suggest a potential decline to 1.3131.

AUDUSD forecast

On the H4 chart of the AUDUSD pair, the market broke above 0.7030 and completed an upward wave, reaching 0.7085. Today, 5 March 2026, a correction towards 0.7010 is expected, with a consolidation range likely to develop around this level. A downside breakout would open the door to a wave towards 0.6920, a local target. Conversely, an upside breakout could lead to another upward move towards 0.7118. Subsequently, a decline within the downtrend is expected.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the wave matrix of the AUDUSD downward wave with a pivot point at 0.7030. It is regarded as key within this wave structure. At the moment, the market is forming a consolidation range around the central line of the Price Envelope at 0.7030, with a decline to its lower boundary at 0.7000 expected today.

Technical indicators for today’s AUDUSD forecast suggest the consolidation range could continue to form around 0.7030.

USDCAD forecast

On the H4 chart of the USDCAD pair, the market completed a downward wave to 1.3628. Today, 5 March 2026, a further downward move to 1.3590 is possible. After this correction is completed, the pair is expected to rise and break above 1.3670. This will open the potential for a wave to 1.3850, with prospects for continuation of the trend to 1.3950.

Technically, this scenario is confirmed by the indicated Elliott wave structure and upward wave matrix with a pivot point at 1.3424. It is regarded as key for USDCAD within this wave structure. At the moment, the market is forming an upward wave to the upper boundary of the Price Envelope at 1.3850. Subsequently, a decline to its lower boundary at 1.3780 is expected.

Technical indicators for today’s USDCAD forecast suggest a potential decline to 1.3590, followed by growth to 1.3850.

XAUUSD forecast

On the H4 chart of XAUUSD, the market completed a downward wave to 5,111. Today, 5 March 2026, a consolidation range is expected to develop above this level. An upside breakout from the range would open the door to a wave towards 5,246, while a downside breakout could trigger a downward move towards 4,957.

Technically, this scenario is confirmed by the indicated Elliott wave structure and upward wave matrix with a pivot point at 5,140. It is regarded as key for XAUUSD within this wave. At the moment, the market is forming a consolidation range below the central line of the Price Envelope at 5,200. A downside breakout from the range would lead to a downward wave towards its lower boundary at 4,957. Conversely, an upside breakout would open the potential for an upward wave to 5,276.

Technical indicators for today’s XAUUSD forecast suggest potential growth to 5,276 and a decline to 4,957.

Brent forecast

On the H4 chart of Brent crude oil, the market broke above 82.40 and could develop an upward wave towards 85.00. Today, 5 March 2026, prices are expected to reach this target before starting to decline to 77.77. Subsequently, growth to 86.40 is expected, with the trend possibly continuing to 90.00.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 77.77. It is regarded as key for Brent within this wave. At the moment, the market is forming an upward move to the upper boundary of the Price Envelope at 85.00. Subsequently, a corrective movement to its lower boundary at 77.77 is expected.

Technical indicators for today’s Brent forecast suggest a potential rise to 85.00.

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