USDJPY Elliott Wave update (July 21, 2025): After completing a five-wave bullish advance, the pair is deep into an A-B-C corrective phase. Wave C’s impulsive decline suggests further downside, with key Fibonacci targets near 147.20. Watch long-term support closely for reversal clues. #Forex #USDJPY #ElliottWave
USD/MYR retreated after a brief rally this week, closing lower amid a dovish shift from the Federal Reserve and solid Malaysian fundamentals. Despite early strength fueled by US Treasury yields, the ringgit gained support from stable growth outlook and steady policy by Bank Negara Malaysia, keeping downward pressure on the pair heading into next week.
AUD/USD shows mixed signals this week, with price struggling near resistance around 0.6700 and a prevailing downside bias shaping the outlook. Technicals suggest rallies remain corrective within a broader bearish trend, supported by cautious RBA tone and hawkish Fed expectations. Key support to watch at 0.6580 and 0.6461 for the next move. #ForexAnalysis #AUDUSD
Gold prices surged past $2,350 following Federal Reserve Governor Christopher Waller’s dovish remarks signaling “good progress” on inflation and hinting at possible rate cuts later this year. The weaker US Dollar and falling Treasury yields strengthened gold’s appeal as markets adjust to a softer US monetary policy outlook.
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Elliott Wave analysis of USDJPY as of July 21, 2025, suggests the five-wave impulse from 2021 is nearing completion. Wave V has pushed prices near 160.00 but shows bearish divergence and momentum loss, indicating a corrective phase may be imminent. Stay tuned for potential trend reversals. #USDJPY #ElliottWave
USD/CAD remains locked in extended consolidation, trading within a horizontal range below key resistance around 1.38. Weekly technicals show waning bullish momentum amid sideways price action and lower highs, signaling downside risk if support near 1.35 breaks. Watch for a decisive break of 1.3784 resistance or 1.3486 support to confirm next directional bias.
AUD/USD ended last week in a tug-of-war between bulls and bears, failing to break above key resistance near 0.6713 while holding short-term support around 0.6579. The pair remains confined within a range shaped by diverging US and Australian monetary policies—Fed’s hawkish stance contrasts with the RBA’s caution amid mixed domestic data. Technicals show consolidation with neutral-to-bearish RSI and waning momentum, suggesting a potential test of support ahead. Watch for a decisive breakout or breakdown to set the medium-term direction. #AUDUSD #ForexAnalysis
GBP/USD showed volatility last week amid mixed UK inflation data and cautious Fed signals. Resistance capped near 1.2850 while support holds around 1.2630. Watch for consolidation between 1.2630–1.2850 as market awaits clearer cues on BoE and Fed policy paths. #forex #GBPUSD
EUR/USD retreats amid reports that former President Trump seeks tougher US tariffs on European imports. Rising trade tensions weigh on the euro as investors favor the safe-haven dollar. Markets remain cautious amid the risk of renewed transatlantic trade disputes. Read more from XTB Market Analysis Team.
