Welcome to the first weekly forecast of 2026 and what a kickoff week it promises to be. Gold’s reaction off the 4,500 zone has already carved out a deep pullback of nearly 5%, landing price into a consolidation range between 4,300 - 4,400. This zone is now the hinge point that will decide the next swing. Is this simply a technical retest, or the start of something bigger? We’ll unpack that, and more, ahead of Friday’s NFP release, which is poised to electrify volatility across asset classes. If you missed our yearly outlook for 2026, be sure to catch the full video linked below before we dive in
DXY (U.S. Dollar Index)
The DXY remains structurally bearish on the monthly chart, with corrective rises capped by bearish divergence. On the weekly frame, fib extensions suggest immediate downside toward 95.84, while structural resistance lies near 101.10 - 101.54. On the daily timeframe, buyers have rallied temporarily, but this is corrective in nature unless price decisively closes above 101.54, our invalidation level for the bearish thesis.
In the shorter term, corrective bounces may lift DXY toward 99.25 - 100.03, and in the best-case bounce scenario, up to 101.10 - 101.54. Nikkhil’s plan remains consistent: sell rallies in DXY and dollar‑related FX pairs unless we see a sustained break above 101.54.
GBP/USD
GBPUSD’s monthly setup shows a bullish divergence from the lows, and weekly extension levels confirm upward progression. Support 1.2930 stands as a long‑term magnet, and fib retracement holds nicely after a bounce from the 38.2% level.
On the daily chart, price is carving out a bull flag, likely signaling another leg higher after a short corrective drop. The 4‑hour structure remains bullish with higher highs and higher lows, suggesting short‑term dips as buying opportunities only. Until we see a confirmed top with bearish divergence on lower timeframes, every retracement is a chance to add long exposure.
CAD/JPY
CADJPY’s structure is clearly bullish from the monthly down through weekly and daily charts, complete with double‑bottom formations and divergence confirming buyer strength. Magnet support lies around 109.51 - 109.88, with resistance targets near 117.58 and beyond.
From the 4‑hour perspective, the pair is currently testing the 1.618 extension zone, and pullbacks toward 112.11 will be treated as buy zones for continuation toward the next resistances.
USD/CAD
USD/CAD continues printing lower highs and lower lows, reinforcing a bearish outlook from monthly to weekly. After rejection at the 78.6 retracement with bearish divergence, the path of least resistance remains down.
Daily chart shows temporary corrective bounces, but this aligns with the broader dollar downtrend and the corrective bounce in DXY itself. Sell zones cluster between 1.3670 - 1.4230 and into 1.3950 on lower timeframes. Nikkhil will be selling on rises, scaling into positions up near 1.3900 - 1.3950 with a target toward 1.3500.
Gold (XAU/USD)
Gold’s monthly structure remains bullish, but the weekly and daily charts show bearish divergence forming, signaling a potential loss of upward momentum. Key structure support lies near 3925; as long as price holds above this, the long bias stays intact.
On the upside, magnet resistance around 4,430–4,450 (what we call triple‑43) is crucial this week. If buyers struggle here, we could see deeper retracements into 4,293, 4,218, and even down toward 4,143 - 4,066, all levels I’ll be accumulating buys against. Nikkhil’s plan is not to short gold, only to buy the dips, especially given the volatility backdrop around NFP.
This week’s technical setups are live and ready. Between the key decision zones in Gold and the dollar’s corrective bounce within a larger bearish structure, disciplined execution will define winners from the rest. Stick to your levels, manage risk, and take trades in alignment with the structure not against it.
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We’ll talk soon
Team Moneytize