Here’s a detailed technical overview and short-term forecast for major forex and commodity instruments, including EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, XAU/USD (gold), and Brent crude, for 16 October 2025.
EUR/USD Forecast
The EUR/USD remains in a consolidation zone near 1.1600, with an initial downward test expected toward this level. A rebound could push the pair to 1.1679, completing the current corrective wave. Following that, the pair may resume a downward trend targeting 1.1500. Technical analysis indicates that the Elliott Wave structure and pivot point at 1.1640 support this scenario.
USD/JPY Forecast
The USD/JPY continues its descent toward 150.40 before testing 151.50 from below. A further decline to 149.75 is possible as the main target of the corrective wave, with a subsequent rise toward 154.10. The Elliott Wave structure and pivot at 149.75 confirm this outlook.
GBP/USD Forecast
GBP/USD consolidated around 1.3343, reaching the corrective target at 1.3434. Today, a downward move toward 1.3343 is expected, with potential continuation to 1.3125 if the support breaks. Pivot at 1.3310 and the Elliott Wave pattern indicate a possible retracement toward 1.3230 before further declines.
AUD/USD Forecast
The AUD/USD corrective wave ended near 0.6520. A further drop toward 0.6431 is anticipated, potentially extending to 0.6410. A short-term rebound to 0.6520 may occur before the next leg down to 0.6340. Elliott Wave patterns and pivot at 0.6520 support this trajectory.
USD/CAD Forecast
USD/CAD trades in a consolidation range around 1.4030. A downward breakout could target 1.3940, while an upward breakout may reach 1.4160, followed by a retracement. Pivot at 1.3940 confirms the wave structure. Indicators suggest initial upward movement toward 1.4080–1.4160 before a potential correction.
XAU/USD (Gold) Forecast
Gold prices advanced to 4,242, with a corrective wave toward 4,190 expected today. After that, a rise toward 4,266 is possible. A breakout above 4,266 could lead to 4,300, while a drop below 4,060 may trigger a larger correction. Pivot at 3,660 and Elliott Wave analysis support continued upward momentum.
Brent Crude Forecast
Brent crude consolidates around 62.00. A rise to 63.63 is likely, with potential upward extension to 67.00. A downward breakout may see prices fall toward 61.10, possibly extending to 60.00. Pivot at 63.63 confirms the wave analysis. Technical indicators suggest short-term consolidation with a risk of a decline to 61.10.
Risk Warning: Previous trading performance does not guarantee similar results in the future. Traders should manage risk and monitor market conditions closely.
