Foreign exchange and Cryptocurrency Forecast for February 02 – 06, 2026 – Analytics & Forecasts – 31 January 2026


Final week may be described as loopy. Our forecast for the important thing developments turned out to be 100% correct. Nonetheless, we didn’t count on such a surge in irregular volatility. Markets reacted in panic to the escalation of sanctions rhetoric and harsh steps by the USA towards Iran. This undermined confidence within the US greenback and triggered a capital outflow into gold and commodities. Within the second half of the week, the greenback partially recovered amid profit-taking and rising demand for liquidity, gold moved into correction, whereas oil held close to its highs on account of persistent dangers of provide disruptions.

💶 EUR/USD

For the reason that summer time of 2025, EUR/USD has been transferring inside the 1.1470-1.1830 vary. Final week, bulls pushed the pair past this channel. After surging by 250 factors, the pair reached 1.2083 after which returned virtually to the place it began, again to the 1.1850 degree. On the similar time, transferring averages proceed to point a bullish medium-term development. Counting on help at 1.1820-1.1830, EUR/USD might try a brand new upward thrust. The closest resistance is at 1.1900, adopted by 1.1975, with the goal being consolidation within the 1.2000-1.2100 zone. A breakout beneath the 1.1820-1.1830 help would cancel the bullish state of affairs and will result in a decline towards the 1.1700 space, with the following help at 1.1580-1.1620.

🟠 Bitcoin (BTC/USD)

The panic-driven exit of buyers from threat property additionally affected bitcoin. On Friday, January 30, BTC/USD fell to its November 2025 lows, reaching a backside at 80,944. On Saturday, it’s buying and selling round 83,000. Throughout the upcoming week, BTC/USD might try to type a corrective transfer towards the 84,150-84,600 space, with the following targets at 86,500-87,700 and 90,500-91,000. A assured breakout above 91,000 would cancel the destructive state of affairs and open the way in which for development towards 95,000. From the 84,600 and 86,500 ranges, a rebound downward towards 80,540 is feasible, with a possible goal close to 74,500.

🛢 Brent Crude Oil

Brent crude oil ended the week close to the higher boundary of the long-term descending channel through which it has been transferring since October 2023. The most recent degree was marked at $69.72 per barrel. Additional motion will rely on the diploma of stress in relations between the USA and Iran. Within the occasion of additional escalation, Brent might try to develop a bullish correction and take a look at the 72.70 resistance space, with targets at 76.15 and 77.75. If costs rebound downward from the higher boundary of the descending channel, the closest goal would be the 66.00 space, adopted by 65.00 and 63.50.

🥇 Gold (XAU/USD)

Such strikes have by no means been seen within the gold market earlier than – volatility reached practically 20% inside only a few days. First, the value surged to $5,595 per ounce after which collapsed to 4,483, after which it stabilised at 4,891. Every week in the past, we warned a couple of attainable bull entice. The entice did certainly work, however solely when the value approached not 5,000, however 5,600. This week, XAU/USD might proceed its downward correction and try to check the 4,535-4,675 space, with the following sturdy help at 4,200-4,350. A breakout beneath this zone would cancel the bullish state of affairs and point out a deeper correction towards $3,350. The closest resistance is round 5,000, adopted by 5,600, whereas the primary goal for bulls now stands at 6,000.

📈 Key Occasions and Baseline Situations of the Week

Within the coming week, the important thing occasion in the USA would be the publication of the labour market report, in addition to information on enterprise exercise and inflation expectations. In Europe, the main target will shift to PMI figures and feedback from ECB representatives. In commodity markets, geopolitical elements proceed to play a task, sustaining heightened worth sensitivity to any new alerts.

Baseline situations: EUR/USD – cautiously bullish whereas the value holds above 1.1830. BTC/USD – neutral-to-bearish whereas the value stays beneath 90,500-91,000. Brent – cautiously bearish whereas costs keep beneath 72.70. XAU/USD – preservation of the bullish construction whereas gold stays above 4,535-4,675.

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