By the close of trading on Friday 23 January 2026, EUR/USD finished near 1.1828. Bitcoin (BTC/USD) ended the week around 89,580–89,700. Brent crude oil traded around 65.88 USD per barrel, and gold (XAU/USD) remained elevated near 4,900–4,985. The final week of January is positioned to reflect investor focus on monetary-policy expectations and macroeconomic data releases, likely generating volatility across FX, commodities and cryptocurrencies.
EUR/USD
EUR/USD is closing a consolidative week near 1.18–1.19, with price action caught between recent corrective highs and key support zones. In the coming week, the pair may initially test the resistance cluster around 1.1860–1.1900. A firm breakthrough above this zone could encourage extension toward 1.1975–1.2050.
Support for further upside will be reinforced if price maintains above 1.1760–1.1720 and buyers defend this base. A pullback toward 1.1720–1.1680 remains plausible before any renewed rally.
If bearish momentum strengthens below 1.1680, deeper correction risk emerges with focus on 1.1600–1.1545. Only a sustained break above the upper resistance band would confirm a broader bullish continuation.
Baseline view: mildly bullish while EUR/USD holds above 1.1720–1.1680; prefer buying on dips unless price decisively slips below that support band.
Bitcoin (BTC/USD)
Bitcoin is concluding the week near 89.6 k, with price consolidating after recent swings through the 90 k area. The immediate upside challenge for bulls will be 91,500–93,000. Breaking and closing above this zone would shift momentum toward 95,000–96,800.
On the downside, a rejection from the resistance area may see BTC retracing toward 90,000–88,500. If bearish pressure intensifies and price closes below 88,500, attention could move to 87,300–86,000 before deeper correction levels near 84,000 become relevant.
Baseline view: neutral to mildly bearish while BTC/USD remains capped below 91,500–93,000; a breakout above that range would pivot the bias bullish.
Brent Crude Oil
Brent is trading around 65.88, reflecting recent strength from deeper corrective levels. In the upcoming week, Brent may attempt to test resistance near 66.30–66.80. A successful breakout above this zone would open the way to 67.80–68.50.
If the resistance holds and price stalls, expect a pullback toward 64.80–64.00, with support further at 63.40 if weakness persists. Failure to hold 63.40 would reinforce a broader downside bias, with focus shifting toward 62.60–61.80.
Baseline view: cautiously bullish while Brent holds above 64.00–63.40, but price is likely to remain sensitive to macro and risk sentiment.
Gold (XAU/USD)
Gold remains perched near elevated levels approaching 5,000, with consolidation suggesting continued demand for safety amid uncertainty. In the coming week, price may see a corrective dip to 4,940–4,900 before bulls reassert control.
A renewed upside attempt through 5,000 would put 5,050–5,120 in focus. On the downside, a sustained fall below 4,900 risks deeper correction toward 4,840–4,780.
Baseline view: buy on dips while XAU/USD holds above 4,900, with structural upside intact.
Market Outlook Summary
The week of 26–30 January 2026 is positioned for elevated volatility as markets weigh monetary policy outlooks and macroeconomic data. EUR/USD’s direction will be sensitive to central-bank cues, while bitcoin needs a clear break above 91,500–93,000 to confirm bullish bias. Brent crude may extend its recent rebound, and gold retains a bullish formation while supported above key levels. Traders should focus on breakout and breakdown triggers across these instruments to guide tactical positioning.
NordFX Analytical Group
Disclaimer: These materials are not an investment recommendation or a guide for working on financial markets and are for informational purposes only. Trading on financial markets is risky and can lead to a complete loss of deposited funds.
