Evening Insights: Friday, January 23, 2026

Current market quotes

Short outlook by currency pair

XAUUSD

Gold tries to approach the psychological $5,000 level, having posted its numerous all-time highs at $4,967. Its weekly gain is 6.88%. XAUUSD is seen not only as a protection against geopolitical risks but also as a hedge against currency weakness. The bullish momentum is strong, though profit-taking is possible near $5,000.

EURUSD

The technical outlook suggests a possible corrective phase after a sharp rise, as the selling interest will probably switch on near the 1.17600 resistance zone. The pair added 1.16% within a week.

USDJPY

The yen was very volatile today, although the Bank of Japan had kept the rate unchanged this morning. USDJPY has stabilized recently, but the traders are aware of the yen’s intervention risk. The pair posted a negative 0.32% change from Monday to Friday but possesses a potential upside intact.

BTCUSD

Bitcoin dropped below $90,000 and has been struggling for a breakout. The confidence is fragile as the outflows from Bitcoin ETFs have signaled the institutional reduction of risk appetite. BTCUSD has declined by 3%. 

Market sentiment

The overall market tone is mixed. While gold was the absolute winner of the week, EURUSD was caught between recovery and correction. USDJPY remained neutral while BTCUSD stayed within a correction mode.