Daily technical analysis and forecast for 19 January 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 19 January 2026.

EURUSD forecast

On the EURUSD H4 chart, the market completed a downward wave to the 1.1575 level. Today, 19 January 2026, a correction towards 1.1636 has formed. It is relevant to consider the development of a downward wave towards the 1.1555 level as the first target. After reaching this target level, the pair could undergo a correction towards the 1.1700 level.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.1680. This level is considered key in the wave structure for EURUSD. Currently, the market is forming a downward wave towards the lower boundary of the Price Envelope at 1.1555. Today, the price is expected to reach this level and start its ascent towards the upper boundary at 1.1700.

Technical indicators for today’s EURUSD forecast suggest a decline to the 1.1555 level.

USDJPY forecast

On the USDJPY H4 chart, the market completed a corrective wave to the 157.42 level. Today, 19 January 2026, a correction towards the 158.10 level is expected. Further, another downward move towards the 156.81 level remains possible. After that, growth towards 158.00 is expected, with the trend potentially continuing towards 160.00.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 158.00. This level is considered key in the structure of this wave. At the moment, the market is forming a downward wave towards the lower boundary of the Price Envelope at 156.81. After that, growth towards its central line at 158.00 is expected, with the prospect of developing an upward wave towards its upper boundary at 160.00.

Technical indicators for today’s USDJPY forecast suggest a continued correction towards 156.00 and the start of growth towards the 160.00 level.

GBPUSD forecast

On the GBPUSD H4 chart, the market completed a downward wave to the 1.3337 level. Today, 19 January 2026, a consolidation range is expected to develop around the 1.3393 level. In the event of an upward breakout, a corrective move towards the 1.3411 level remains possible. Conversely, a downward breakout would open the potential for a wave towards 1.3293.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at 1.3455. This level is considered key in the structure of this wave. Today, a downward wave could develop, aiming for the lower boundary of the Price Envelope at 1.3293. Subsequently, an upward move towards the upper boundary at 1.3393 remains possible, followed by a new downward wave towards its lower boundary at 1.3260.

Technical indicators for today’s GBPUSD forecast suggest a downward wave towards the 1.3290 level.

AUDUSD forecast

On the AUDUSD H4 chart, the market is forming a consolidation range around the 0.6700 level. Today, 19 January 2026, the range expanded downwards to 0.6667 and upwards to 0.6700. After that, a downward wave could start, targeting 0.6650. A breakout below this level would open the door for a wave towards 0.6595.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.6666. This level is considered key in the structure of this wave. At the moment, the market is forming a correction towards the upper boundary of the Price Envelope at 0.6700. Further decline towards its lower boundary at 0.6600 is expected.

Technical indicators for today’s AUDUSD forecast suggest the pair could start to decline towards the 0.6600 level.

USDCAD forecast

On the USDCAD H4 chart, the market is forming a consolidation range around the 1.3883 level. Today, 19 January 2026, the range may expand downwards to 1.3838 and upwards to the 1.3890 level. In the event of an upward breakout of this level, a new upward wave could start, aiming for the 1.4010 level as the first target.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 1.3833. This level is considered key for USDCAD in the structure of this wave. The market has completed a correction towards the central line of the Price Envelope at 1.3888. Further growth towards its upper boundary at 1.4010 is expected.

Technical indicators for today’s USDCAD forecast suggest growth towards the 1.4010 level.

XAUUSD forecast

On the XAUUSD H4 chart, the market has broken above the 4,646 level and continues to develop an upward wave towards the 4,770 level. Today, 19 January 2026, prices are expected to reach this target level. Further, a corrective move towards the 4,650 level remains possible, followed by growth towards 4,855.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at 4,500. This level is considered key for XAUUSD in this wave. At the moment, the market is performing the fifth upward wave towards the upper boundary of the Price Envelope at 4,770. After reaching this level, quotes are expected to undergo a correction towards the central line at 4,650.

Technical indicators for today’s XAUUSD forecast suggest growth towards the 4,770 level.

Brent forecast

On the Brent H4 chart, the market is forming a consolidation range around the 63.85 level. Today, 19 January 2026, a corrective wave could develop towards 61.30, with an upward wave towards the 67.75 level likely to follow.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at the 63.20 level. This level is considered key for Brent in this wave. The market is currently forming a corrective move towards the lower boundary of the Price Envelope at 61.30. Further, a corrective leg towards its central line at 63.85 is expected.

Technical indicators for today’s Brent forecast suggest a decline towards the 61.30 level.

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