π Technical Analysis β January 22, 2026
β βThe dollar selling bias remains intact, the euro and commodity currencies stay firm at high levels, and gold is strong even on pullbacksβ
π Market Power Structure
| Asset | Status |
|---|---|
| USD | β Structural downtrend |
| EUR | π’ Leading-level strength |
| AUD / NZD | π’ Super-bullish zone |
| JPY | β Short-term corrections, but overall weak-yen bias |
| GOLD | π₯ Accelerating trend, in a class of its own |
οΌ
βBroad USD weakness Γ Euro & commodity currencies dominate Γ Yen selling continues Γ Gold is in another dimensionβ
π± Multi-Timeframe Summary (Key Updates)
πΉ Dollar Majors
| Pair | Short Term (5β15m) | 1 Hour | Daily | Key Point |
|---|---|---|---|---|
| EUR/USD | βͺοΈ β π© Buy | π© Buy | π© Strong Buy | Even at highs, dips are bought immediately |
| GBP/USD | π© Strong Buy | π© Strong Buy | βͺοΈ Neutral | Uptrend intact, daily chart in a mild overheating zone |
| AUD/USD | βͺοΈ Neutral | π© Strong Buy | π© Strong Buy | Correction finished β resumption phase |
π
Dollar majors are in a state where there is no sustained dollar short-covering at all.
Rallies = sell the dollar.
Pullbacks = buy euros and Aussie.
πΉ USD/JPY & Dollar Crosses
| Pair | Short Term | Daily | Assessment |
|---|---|---|---|
| USD/JPY | π₯ Sell | π© Strong Buy | Short-term correction Γ medium-term weak-yen trend. Pullback-buy only |
| USD/CAD | βͺοΈ Neutral | βͺοΈ Neutral | Weak rebounds, structure favors selling rallies |
| USD/CHF | π₯ Strong Sell | π₯ Strong Sell | Weakest USD zone |
| USD/NZD | π₯ Strong Sell | π₯ Strong Sell | Permanently weakest USD seat |
π
Dollar crosses are completely aligned to the downside.
All rebounds are merely setups for selling again.
πΉ Yen Crosses (A Full Weak-Yen Market)
| Pair | Short Term | Daily | Comment |
|---|---|---|---|
| EUR/JPY | βͺοΈ | π© Strong Buy | Symbol of euro leadership |
| GBP/JPY | π© Strong Buy | π© Strong Buy | Textbook trend |
| AUD/JPY | π₯ Correction | π© Strong Buy | Waiting for pullback completion |
| CAD/JPY | π₯ Correction | π© Strong Buy | Pullback-type uptrend |
| CHF/JPY | π© Strong Buy | π© Strong Buy | Abnormally strong |
π
All yen crosses are long-biased.
Especially CHF/JPY and GBP/JPY are core leaders.
πΉ Gold (XAU/USD)
| Asset | Assessment |
|---|---|
| XAU/USD | π© Strong buy on both hourly and daily charts. Every dip is bought |
π
Gold is the strongest asset combining
βcapital flight + trend following.β
This is a phase where careless counter-trend trades get burned.
π― Trading Strategy (BTC Excluded)
π’ Top Priority Longs
-
XAU/USD (Gold)
-
EUR/USD
-
AUD/USD (on pullbacks)
-
GBP/JPY
-
CHF/JPY
-
NZD/JPY
β Pullback-Only Zones
-
USD/JPY
-
AUD/JPY
-
CAD/JPY
π΄ Top Priority Shorts
-
USD/CHF
-
USD/NZD
-
USD/CAD (only on rallies, depending on conditions)
π§ One-Line Summary
βSell the dollar, buy the euro and commodity currencies,
go with yen-cross trends, and treat gold as the unquestioned leader.β
Right now, direction, strength differentials, and macro themes are perfectly aligned,
making this a highly mature and exceptionally clear trend environment.
