Daily technical analysis and forecast for 21 January 2026

Here is a detailed daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD and Brent for 21 January 2026.

EURUSD forecast

On the EURUSD H4 chart, the market is forming a consolidation range below the 1.1765 level. Today, 21 January 2026, a downside breakout from this range is likely, with the target at 1.1650. If this level breaks, potential opens for a decline towards 1.1598.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at the 1.1680 level. This level is considered key in the wave structure for EURUSD. Currently, the market is forming a downward wave towards the central line of the Price Envelope at 1.1650. It is possible to expect today a continued decline towards its lower boundary at 1.1598.

Technical indicators for today’s EURUSD forecast suggest the start of a decline to the 1.1598 level.

USDJPY forecast

On the USDJPY H4 chart, the market continues to develop a consolidation range around the 158.15 level. Today, 21 January 2026, a downside breakout from the range could open the potential for a wave towards 156.81. Conversely, in the case of an upside breakout from the range, a move towards the 160.00 level might follow.

Technically, this scenario for USDJPY is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at the 158.00 level. 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. A decline towards its lower boundary at 157.38 is possible. Subsequently, growth towards its central line at 158.00 is expected, potentially extending towards its upper boundary at 160.00.

Technical indicators for today’s USDJPY forecast suggest a correction towards the 157.30 level, followed by growth towards 160.00.

GBPUSD forecast

On the GBPUSD H4 chart, the market is forming a consolidation range around the 1.3454 level. Today, 21 January 2026, a downward wave towards 1.3400 is expected. A breakout below this level would open the way for a wave towards 1.3326.

Technically, this scenario for GBPUSD is confirmed by the indicated Elliott wave structure and the downward wave matrix with a pivot point at the 1.3455 level. This level is considered key in the structure of this wave. Today, a downward wave could develop, targeting 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 move towards its lower boundary at 1.3260 is expected.

Technical indicators for today’s GBPUSD forecast suggest a downward wave could start, aiming for the 1.3326 level.

AUDUSD forecast

On the AUDUSD H4 chart, the market is forming a consolidation range around the 0.6730 level. Today, 21 January 2026, the range expanded upwards to 0.6745. After that, a downward wave might begin, targeting 0.6700, with a breakout below this level potentially opening the door for a wave towards 0.6666.

Technically, this scenario is confirmed by the indicated Elliott wave structure and the downward 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 correction towards the upper boundary of the Price Envelope at 0.6745. Further decline towards its lower boundary at 0.6666 is expected.

Technical indicators for today’s AUDUSD forecast suggest the start of a decline towards the 0.6666 level.

USDCAD forecast

On the USDCAD H4 chart, the market completed a downward wave to the 1.3815 level. Today, 21 January 2026, a new upward wave towards the 1.3920 level is expected, potentially extending towards 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 1.3814. 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 has broken above the 4,765 level and continues to develop an upward wave towards the 4,930 level. Today, 21 January 2026, prices are expected to reach this target level. Further, a corrective move towards the 4,765 level 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. The market is now performing the fifth upward wave towards the upper boundary of the Price Envelope at 4,930. After reaching this level, a corrective move towards its central line at 4,765 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 63.50. Today, 21 January 2026, a corrective wave towards the 62.60 level is possible, potentially followed by an upward move towards 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. At the moment, the market is forming a corrective move towards the lower boundary of the Price Envelope at 63.50. Further, an upward leg towards its central line at 63.85 is expected, with the trend possibly continuing towards 66.75.

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

Open Account

Editors’ picks

EURUSD 2026-2027 forecast: key market trends and future predictions

This article provides the EURUSD forecast for 2026 and 2027 and highlights the main factors determining the direction of the pair’s movements. We will apply technical analysis, take into account the opinions of leading experts, large banks, and financial institutions, and study AI-based forecasts. This comprehensive insight into EURUSD predictions should help investors and traders make informed decisions.

Gold (XAUUSD) forecast 2026 and beyond: expert insights, price predictions, and analysis

Dive deep into the Gold (XAUUSD) price outlook for 2026 and beyond, combining technical analysis, expert forecasts, and key macroeconomic factors. It explains the drivers behind gold’s recent surge, explores potential scenarios including a move toward 4,500 to 5,000 USD per ounce, and highlights why the metal remains a strong hedge during global uncertainty.