Daily technical analysis and forecast for 22 January 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 22 January 2026.

EURUSD forecast

On the EURUSD H4 chart, the market is forming a consolidation range around the 1.1683 level. Today, 22 January 2026, a downside breakout from this range is possible, with the target at 1.1628. A breakout below this level would open the potential for a decline towards 1.1590.

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. At the moment, the market is forming a downward wave towards the central line of the Price Envelope at 1.1650, with the decline expected to continue towards its lower boundary at 1.1590 today.

Technical indicators for today’s EURUSD forecast suggest the start of a decline to the 1.1590 level.

USDJPY forecast

On the USDJPY H4 chart, the market continues to develop a consolidation range around the 158.15 level. Today, 22 January 2026, a downside breakout from the range would open the potential for a wave towards 156.81. Conversely, an upside breakout from the range could trigger a wave towards the 160.00 level.

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 consolidation range around the central line of the Price Envelope at 158.15, with a decline towards its lower boundary at 157.38 possible. After that, growth towards the central line at 158.00 is expected, potentially extending towards its upper boundary at 160.00.

Technical indicators for today’s USDJPY forecast suggest growth towards the 160.00 level.

GBPUSD forecast

On the GBPUSD H4 chart, the market is forming a consolidation range around the 1.3434 level. Today, 22 January 2026, a downward wave towards 1.3326 is expected. A breakout below this level would pave the way for a wave towards 1.3260.

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 1.3326. Further, an upward move towards its central line at 1.3400 is possible. After this wave is complete, a new downward wave is expected to start, targeting its lower boundary at 1.3260.

Technical indicators for today’s GBPUSD forecast suggest the start of a downward wave towards the 1.3326 level.

AUDUSD forecast

On the AUDUSD H4 chart, the market is forming a consolidation range around the 0.6777 level. Today, 22 January 2026, the range expanded upwards to 0.6800. Subsequently, a downward wave towards 0.6777 could begin, potentially followed by growth towards the 0.6890 level.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix for AUDUSD with a pivot point at the 0.6666 level. This level is considered key in the structure of this wave. At the moment, the market is forming a wave towards the upper boundary of the Price Envelope at 0.6890, with a decline towards its lower boundary at 0.6666 expected later.

Technical indicators for today’s AUDUSD forecast suggest growth towards the 0.6890 level.

USDCAD forecast

On the USDCAD H4 chart, the market completed a downward wave to the 1.3785 level. Today, 22 January 2026, a new upward wave is expected to begin, aiming for 1.3860 and possibly extending to 1.4010 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 the 1.3833 level. This level is considered key for USDCAD in the structure of this wave. At the moment, the market completed a correction towards the lower boundary of the Price Envelope at 1.3785. Further growth towards its upper boundary at 1.4010 is expected.

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

XAUUSD forecast

On the XAUUSD H4 chart, the market is completing a corrective move towards the 4,755 level and continues to develop an upward wave towards 4,933. Today, 22 January 2026, prices are expected to reach this target level. Further, a corrective move towards 4,735 is possible, followed by growth towards 5,030.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the upward wave matrix with a pivot point at the 4,500 level. 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 4,930. After prices reach this level, a corrective move towards its central line at 4,735 is expected.

Technical indicators for today’s XAUUSD forecast suggest growth towards the 4,930 level.

Brent forecast

On the Brent H4 chart, the market is forming a consolidation range around the 64.44 level. Today, 22 January 2026, a corrective wave towards 64.00 cannot be ruled out. Further, an upward wave might begin, aiming for the 66.75 level.

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. Currently, the market is forming a corrective move towards the central line of the Price Envelope at 64.44. Subsequently, an upward move towards its upper boundary at 66.75 is expected, with the trend potentially continuing towards 69.00.

Technical indicators for today’s Brent forecast suggest growth towards the 66.75 level.

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