The previous week turned one of many weakest for the US greenback in current months. USD started to lose its standing as an unconditional safe-haven asset. Political and geopolitical uncertainty round the US elevated noticeably. Resonant statements by Donald Trump and the escalation of the Greenland challenge turned further strain components. Towards this background, the market switched to a Promote America mode, triggering capital outflows from dollar-denominated belongings.
Assist from the Federal Reserve additionally weakened. Inflation expectations within the US declined reasonably. This decreased arguments in favour of a extra restrictive financial coverage. On the similar time, robust macroeconomic information from the UK supported the pound and elevated strain on the US forex, pushing the DXY greenback index down from 99.4 to 97.6.
💶 EUR/USD
Beforehand, we recommended {that a} assured breakout above 1.1700 would sign the cancellation of the bearish state of affairs and kind potential for a transfer in direction of 1.1820. This forecast proved to be right. Over the week, the EUR/USD pair rose by 250 factors – from 1.1577 to 1.1827 – and returned to the higher boundary of the sideways channel through which it has been buying and selling since July 2025. Within the coming week, the pair might take a look at resistance within the 1.1880-1.1920 zone. A assured breakout of this space will affirm bullish momentum and open the best way in direction of 1.1975-1.2050. Nevertheless, after final week’s robust rally, a bearish correction in direction of 1.1770 can’t be dominated out, adopted by a transfer to the 1.1680-1.1725 help zone. A breakdown under this space would improve the danger of a decline in direction of 1.1580-1.1615.
🟠 Bitcoin (BTC/USD)
Renewed investor flight from threat belongings, after all, additionally affected bitcoin. The BTC/USD pair failed to carry above the higher boundary of the consolidation vary at 83,800-94,500 and fell in direction of the Pivot Level at 90,000. On Saturday, January 24, it’s buying and selling round 89,500. If bitcoin nonetheless reacts to the weaker greenback, it might have an opportunity to partially recuperate its losses. The closest impediment would be the 90,350-91,500 zone, a breakout of which might enable the pair to focus on 94,500-95,000. The subsequent goal is 98,000. If threat appetites out there proceed to say no, the BTC/USD pair might prolong its fall. The closest help zone is 86,360-87,175, adopted by 83,800-85,100.
🛢 Brent Crude Oil
Not like bitcoin, oil responded to the weaker greenback with an increase in costs to 65.33 USD per barrel. Brent has shaped a brand new help stage at 62.75. If this stage fails, costs might fall into the 61.80-62.15 zone. The subsequent robust help is at 61.00. Within the case of continued bullish momentum, bulls might make one other try to consolidate above 66.50, which might open the best way in direction of 67.80-68.50.
🥇 Gold (XAU/USD)
Again in December, we forecast an increase in gold in the course of the first months of 2026 to five,000 {dollars} per ounce. It seems that this forecast could also be fulfilled already by the tip of January – on Friday, the ultimate chord for the XAU/USD pair sounded at 4,988. A brand new upward try will deliver the 5,050 and 5,120 ranges into focus, from the place a correction decrease is feasible. Nevertheless, a bull entice can’t be dominated out, when the worth, failing to beat the 5,000 stage, reverses sharply to the draw back. The closest help ranges are 4,900-4,935. If promoting strain intensifies, the danger of a deeper decline will increase – in direction of 4,765. The subsequent robust help is at 4,640.
📈 Key Occasions and Baseline Eventualities of the Week
Within the coming week, the main focus can be on the Federal Reserve assembly on January 27-28 and the regulator’s rhetoric, which can set the tone for rate of interest expectations for the approaching months. Extra curiosity can be generated by US GDP information for This fall, in addition to inflation and labour market statistics. In Europe, buyers will assess enterprise exercise indicators (PMI) and indicators from the ECB.
Baseline situations: EUR/USD – reasonably bullish whereas the worth holds above 1.1680-1.1725. BTC/USD – impartial to bearish whereas the worth stays under 91,500. Brent – cautiously bullish whereas costs keep above 62.75. Gold – preservation of the upward construction, shopping for on corrections whereas XAU/USD holds above 4,900.
