Overview
Today’s main themes are the alignment of buying signals in USD/JPY and CAD/JPY, an improvement in the pound, and broader strength across equity indices.
USD/JPY has turned strongly bullish across all timeframes, with its hourly indicators also improving. CAD/JPY and GBP/CHF are strongly bullish across all timeframes as well. In contrast, USD/CAD is bearish across all timeframes, reflecting relative strength in the Canadian dollar.
Sterling has improved against the yen and Swiss franc. EUR/GBP is strongly bearish across all timeframes, clearly showing the pound’s relative strength against the euro. However, GBP/USD is neutral on the hourly and daily charts, so sterling’s strength is not aligned across every pair.
NZD/USD is strongly bearish across all timeframes. NZD/JPY remains strongly bearish from the 15-minute chart through the daily chart. AUD/NZD is strongly bullish on the daily chart, but has weakened to neutral from the short-term through hourly charts.
In commodities, gold, silver and BTC are strongly bearish on the hourly and daily charts. Among equity indices, the S&P 500 has improved to strong buying across all timeframes, with buying also spreading to the DAX, UK 100 and CAC 40.
Main Changes Since the Previous Report
USD/JPY’s hourly signal has improved from bullish to strongly bullish. The hourly indicator, which was neutral in the previous report, has also turned strongly bullish, strengthening the alignment of buying signals.
GBP/CHF has shifted from strong selling to strong buying from the short-term through hourly charts, aligning with its daily trend.
CAD/JPY’s neutral hourly signal has disappeared, leaving strong buying across all timeframes. USD/CAD’s strong hourly buying has faded, and its daily signal has shifted from neutral to strongly bearish.
GBP/USD has improved from strong selling across all timeframes to strong buying in the short term and neutral signals on the hourly and daily charts. GBP/JPY is also strongly bullish from the short-term through hourly charts, with a neutral daily signal.
EUR/GBP has lost its strong buying signals from the short-term through hourly charts and has turned strongly bearish across all timeframes.
AUD/NZD’s strong buying on the 15-minute and hourly charts has eased to neutral. Strong buying on the daily chart remains.
BTC’s buying signals have weakened from the short-term through hourly charts. The hourly signal is now strongly bearish, and the daily signal has shifted from neutral to strongly bearish.
Copper’s daily signal has weakened from strong buying to neutral, while the hourly chart has turned strongly bearish. Wheat’s short-term rebound has faded, leaving selling signals across all timeframes.
The S&P 500 has improved to strong buying across all timeframes. The Nasdaq 100 and Nikkei have also turned strongly bullish from the short-term through hourly charts; improvement on their daily charts is the next point to watch.
FX Market
EUR/USD — 1.1140
The five-minute chart is strongly bullish; the 15-minute chart is bullish; the hourly and daily charts are strongly bearish.
The short-term rebound continues, but the hourly signal has weakened from bearish to strongly bearish since the previous report. The moving averages and indicators on the hourly and daily charts are aligned to the downside.
The pair remains a potential sell-on-rallies candidate. Watch whether buying on the 15-minute chart fades and price turns back in line with the hourly trend.
GBP/USD — 1.3319
The five-minute and 15-minute charts are strongly bullish; the hourly and daily charts are neutral.
The pair has improved from strong selling across all timeframes. However, the hourly moving averages are bullish while the indicators are bearish; on the daily chart, the moving averages are strongly bearish while the indicators are bullish.
This is a short-term rebound. Watch whether strength on the 15-minute chart extends to bullish signals on the hourly chart.
USD/JPY — 158.00
Strongly bullish across all timeframes.
The hourly indicator, which was neutral in the previous report, has improved to strongly bullish. The moving averages and indicators are aligned to the upside across all timeframes, making the bullish signal clear.
The bias is toward buying dips. Focus on whether strong buying on the 15-minute and hourly charts holds through a short-term correction.
USD/CHF — 0.8287
The five-minute chart is bullish; the 15-minute chart is neutral; the hourly chart is bullish; the daily chart is strongly bullish.
The daily strength remains, but the hourly signal has eased from strong buying to buying. The 15-minute moving averages are also neutral, so the buying signals are not fully aligned.
For a buy-on-dips setup, watch for the 15-minute chart to turn bullish again.
AUD/USD — 0.7032
The five-minute, 15-minute and hourly charts are strongly bearish; the daily chart is strongly bullish.
The overall signals are unchanged from the previous report. The moving averages and indicators are strongly bearish from the short-term through hourly charts, while the daily chart remains bullish, leaving the timeframes in conflict.
For a buy in line with the daily trend, wait for the selling signals on the 15-minute and hourly charts to ease.
NZD/USD — 0.5611
Strongly bearish across all timeframes.
The five-minute chart has shifted from neutral to bearish, aligning with the higher-timeframe signals. The moving averages and indicators are bearish across all timeframes, and weakness in the New Zealand dollar continues.
The bias is toward selling rallies. Even if the pair rebounds, watch whether the 15-minute and hourly selling signals remain in place.
USD/CAD — 1.3994
The five-minute chart is strongly bearish; the 15-minute and hourly charts are bearish; the daily chart is strongly bearish.
The strong hourly buying signal from the previous report has disappeared, and the pair has realigned with the daily downtrend. However, the 15-minute indicators are neutral, so the internal signals are not fully bearish.
The pair is a potential sell-on-rallies candidate. Watch whether the 15-minute indicators also turn bearish.
Crosses and Relative Currency Strength
EUR/JPY — 176.04
The five-minute and 15-minute charts are strongly bullish; the hourly chart is bullish; the daily chart is strongly bearish.
The hourly chart has improved from bearish to bullish. The moving averages and indicators are bullish from the short-term through hourly charts, but the daily weakness remains.
This is a short-term buying candidate. Treat the rebound as counter to the daily trend and watch whether the hourly buying signal holds.
GBP/JPY — 210.45
The five-minute, 15-minute and hourly charts are strongly bullish; the daily chart is neutral.
The short-term and hourly selling signals from the previous report have disappeared. The daily signal has also improved from strong selling to neutral, although the moving averages remain bearish while the indicators are bullish.
The pair is a potential short-term buy-on-dips candidate. The next question is whether hourly strength extends to the daily chart.
CHF/JPY — 190.65
The five-minute, 15-minute and hourly charts are strongly bullish; the daily chart is strongly bearish.
The hourly signal has turned from strong selling to strong buying. On the daily chart, however, both the moving averages and indicators remain bearish.
The short-term rebound is clear, but the daily downtrend remains intact. Watch whether buying on the hourly chart continues.
AUD/JPY — 111.10
The five-minute chart is neutral; the 15-minute and hourly charts are strongly bearish; the daily chart is strongly bullish.
The hourly signal has weakened from bearish to strongly bearish. The short-term through hourly charts remain in correction against the bullish daily trend.
The pair remains a potential buy-on-dips candidate in line with the daily chart, but there is no confirmation that the correction has ended. Wait for the 15-minute and hourly charts to improve.
NZD/JPY — 88.65
The five-minute chart is neutral; the 15-minute, hourly and daily charts are strongly bearish.
The five-minute signal has weakened from bullish to neutral. The moving averages and indicators on the hourly and daily charts are also strongly bearish.
The bias is toward selling rallies. Watch whether the short-term rebound fades and the 15-minute chart aligns with the broader downtrend.
CAD/JPY — 112.91
Strongly bullish across all timeframes.
The hourly chart, which was neutral in the previous report, has improved to strong buying. The moving averages and indicators are aligned to the upside across all timeframes.
CAD/JPY stands out as a clear buy-on-dips candidate among the yen crosses. Focus on whether strong buying on the 15-minute and hourly charts holds.
EUR/GBP — 0.8365
Strongly bearish across all timeframes.
Strong buying from the short-term through hourly charts has disappeared, aligning the pair with the daily downtrend. The moving averages and indicators are strongly bearish across all timeframes.
The pair clearly reflects sterling’s relative strength against the euro. The bias is toward selling rallies.
AUD/NZD — 1.2532
The five-minute, 15-minute and hourly charts are neutral; the daily chart is strongly bullish.
Strong buying on the 15-minute and hourly charts has weakened since the previous report. On the hourly chart, the moving averages are bullish while the indicators are strongly bearish.
For a buy in line with the daily trend, wait for the 15-minute and hourly charts to turn bullish again.
EUR/CHF — 0.9234
The five-minute and 15-minute charts are strongly bullish; the hourly chart is neutral; the daily chart is strongly bearish.
Short-term signals have improved, but the hourly buying signal has disappeared. On the hourly chart, the moving averages are bearish and the indicators are neutral.
For a daily-trend sell-on-rallies setup, wait for short-term buying to fade.
GBP/CHF — 1.1038
Strongly bullish across all timeframes.
Strong selling from the short-term through hourly charts has disappeared, bringing the pair into alignment with the bullish daily trend. The moving averages and indicators are bullish across all timeframes.
The bias is toward buying dips. Together with the broad selling in EUR/GBP, this also highlights sterling’s relative strength.
Commodities
Gold — 4031.67
The five-minute chart is bullish; the 15-minute chart is neutral; the hourly and daily charts are strongly bearish.
There is a short-term rebound, but the hourly signal has weakened from neutral to strongly bearish. The moving averages and indicators on the hourly and daily charts are aligned to the downside.
The bias is toward selling rallies. Watch whether buying on the five-minute chart fades and the 15-minute chart also turns bearish.
Gold Futures — 4042.02
The five-minute chart is strongly bullish; the 15-minute chart is neutral; the hourly and daily charts are strongly bearish.
There is a short-term rebound, but the hourly signal has shifted from neutral to strongly bearish. As with spot gold, higher-timeframe weakness is clear.
For a sell-on-rallies setup, wait for short-term buying to fade.
Silver — 52.7475
The five-minute chart is bullish; the 15-minute, hourly and daily charts are strongly bearish.
The five-minute chart has rebounded after selling across all timeframes in the previous report. However, the moving averages and indicators remain aligned to the downside on the 15-minute chart and above.
The bias is toward selling rallies. Watch whether the five-minute rebound extends to the higher timeframes or fades back into the downtrend.
Silver Futures — 52.808
The five-minute chart is bullish; the 15-minute chart is bearish; the hourly and daily charts are strongly bearish.
There is a short-term rebound, but the hourly and daily downtrends remain in place. The moving averages and indicators on the 15-minute chart are also bearish.
The higher-timeframe bias is to sell rallies. Wait for the short-term buying signal to weaken.
WTI Crude Oil — 101.44
The five-minute, 15-minute and hourly charts are neutral; the daily chart is strongly bullish.
The strong short-term selling seen previously has eased, but the hourly signal has also weakened from strong buying to neutral. On the hourly chart, the moving averages are bullish while the indicators are strongly bearish.
For a buy-on-dips setup in line with the daily trend, wait for buying signals to realign on the 15-minute and hourly charts.
Natural Gas — 3.040
The five-minute chart is strongly bearish; the 15-minute chart is neutral; the hourly chart is strongly bullish; the daily chart is neutral.
The hourly chart has improved from neutral, and the previous strong selling on the daily chart has eased. However, on the daily chart, the moving averages are strongly bullish while the indicators are bearish.
For a short-term buy, watch whether selling on the five-minute chart stops and the 15-minute chart follows the hourly buying signal.
Copper — 6.5913
The five-minute chart is neutral; the 15-minute and hourly charts are strongly bearish; the daily chart is neutral.
The daily strong-buy signal from the previous report has disappeared, and the hourly chart has weakened from bearish to strongly bearish. Selling signals are aligned on the 15-minute and hourly charts.
The short-term through hourly bias favours selling rallies. The next point to watch is whether selling extends to the daily chart.
US Wheat — 598.90
The five-minute and 15-minute charts are bearish; the hourly and daily charts are strongly bearish.
The short-term rebound has faded, bringing the pair back in line with the daily downtrend. Both the moving averages and indicators are bearish across all timeframes.
The bias is toward selling rallies. Watch whether the weakness on the 15-minute and hourly charts persists during any rebound.
BTC/USD — 80177.0
The five-minute and 15-minute charts are neutral; the hourly and daily charts are strongly bearish.
The strong buying through the hourly chart seen in the previous report has disappeared. The daily signal has also weakened from neutral to strongly bearish, with the moving averages and indicators aligned to the downside.
For a sell-on-rallies setup, watch whether selling extends to the 15-minute chart.
Equity Indices
Dow Jones — 52475.10
The five-minute and 15-minute charts are neutral; the hourly chart is bullish; the daily chart is strongly bullish.
The daily strength remains, but the hourly signal has eased from strong buying to buying. On the 15-minute chart, the moving averages are strongly bullish while the indicators are bearish.
The daily trend favours buying dips. Wait for the 15-minute indicators to turn bullish and align with the higher-timeframe trend.
S&P 500 — 7743.98
Strongly bullish across all timeframes.
The remaining short-term selling and the neutral daily signal from the previous report have disappeared. The moving averages and indicators are aligned to the upside across all timeframes.
The S&P 500 is a clear buy-on-dips candidate among today’s equity indices. Focus on whether strong buying on the 15-minute and hourly charts holds.
Nasdaq 100 — 29813.16
The five-minute, 15-minute and hourly charts are strongly bullish; the daily chart is neutral.
Short-term buying has become clearer since the previous report. However, the daily indicators are neutral, so the bullish alignment currently extends only through the hourly chart.
The index is a potential short-term buy-on-dips candidate. Watch whether hourly strength extends to the daily indicators.
DAX — 25933.66
The five-minute chart is bullish; the 15-minute, hourly and daily charts are strongly bullish.
The five-minute chart has eased slightly from strong buying across all timeframes, but bullish signals remain on every timeframe. The moving averages and indicators are aligned.
The bias is toward buying dips. Watch whether the five-minute chart strengthens again after a short-term correction.
UK 100 — 10726.97
The five-minute chart is neutral; the 15-minute chart is bullish; the hourly and daily charts are strongly bullish.
Strong selling on the 15-minute and hourly charts has disappeared, and the daily chart has improved from neutral. On the five-minute chart, however, the moving averages are bullish while the indicators are bearish.
The higher-timeframe trend favours buying dips. Watch for the five-minute chart to turn bullish.
CAC 40 — 7963.30
The five-minute, 15-minute and hourly charts are strongly bullish; the daily chart is bullish.
The short-term neutral signal has disappeared, and the daily chart has improved to bullish. However, the daily moving averages are neutral, so the internal alignment is not as strong as on the S&P 500 or DAX.
The index is a buy-on-dips candidate. Watch whether the daily moving averages improve while the hourly strength holds.
Nikkei 225 — 64594.00
The five-minute, 15-minute and hourly charts are strongly bullish; the daily chart is neutral.
The previous neutral and bearish signals on the short-term and hourly charts have disappeared. The daily signal has also improved from strong selling to neutral, although the moving averages are bullish while the indicators are bearish.
The index is a potential short-term buy-on-dips candidate. The next point to watch is whether the daily chart aligns to the upside.
Strength Rankings
Strongly Bullish Overall Across All Timeframes
-
USD/JPY
-
CAD/JPY
-
GBP/CHF
-
S&P 500
The moving averages and indicators are aligned to the upside across all timeframes.
Bullish Overall Across All Timeframes
-
DAX
-
CAC 40
The DAX’s internal signals are also bullish. The CAC 40’s daily moving averages remain neutral, leaving room for further alignment.
Maintaining Bullish Signals on the Hourly and Daily Charts
-
USD/CHF
-
Dow Jones
-
UK 100
Neutral signals remain on shorter timeframes. Watch for improvement on the 15-minute or five-minute charts.
Strongly Bullish from the Short-Term Through Hourly Charts
-
GBP/JPY
-
CHF/JPY
-
Nasdaq 100
-
Nikkei 225
Their daily signals are neutral or bearish. Distinguish short-term strength from a reversal of the daily trend.
Weakness Rankings
Strongly Bearish Overall Across All Timeframes
-
NZD/USD
-
EUR/GBP
EUR/GBP’s moving averages and indicators are also strongly bearish across all timeframes.
Bearish Across All Timeframes
-
USD/CAD
-
US wheat
The 15-minute indicators for USD/CAD remain neutral. For wheat, both the moving averages and indicators are bearish across all timeframes.
Strongly Bearish from the 15-Minute Chart Through the Daily Chart
-
NZD/JPY
-
Silver
Short-term rebounds or neutral signals remain, but higher-timeframe weakness is clear.
Strongly Bearish on the Hourly and Daily Charts
-
EUR/USD
-
Gold
-
Gold futures
-
Silver futures
-
BTC
Watch whether short-term rebounds extend to the higher timeframes or fade back into the downtrend.
Trading Strategy
Prefer to Watch for Buy-on-Dips Setups
USD/JPY, CAD/JPY, GBP/CHF and the S&P 500 are strongly bullish across all timeframes.
The DAX is also bullish across all timeframes, with the moving averages and indicators aligned. Wait for a short-term pullback, then watch for price to turn up again while the 15-minute and hourly buying signals hold.
The CAC 40 is also bullish, but its daily moving averages remain neutral. Watch for stronger alignment on the daily chart.
Buying Candidates Requiring Short-Term Improvement
USD/CHF, the Dow Jones and the UK 100 retain bullish higher-timeframe signals.
Neutral signals or bearish indicators remain on shorter timeframes. Wait for the 15-minute or five-minute charts to align to the upside.
AUD/NZD and WTI crude oil are strongly bullish on the daily chart, but neutral on the hourly chart. Watch for buying signals to realign on the hourly chart.
Short-Term Buying Candidates
GBP/JPY, the Nasdaq 100 and the Nikkei are strongly bullish from the five-minute through hourly charts, with neutral daily signals.
CHF/JPY is also strongly bullish through the hourly chart, but strongly bearish on the daily chart. Treat this as a rebound against the daily trend and monitor closely for any deterioration in short-term buying.
Sell-on-Rallies Candidates
NZD/USD, EUR/GBP, USD/CAD and wheat are bearish across all timeframes.
For EUR/USD, gold, silver and BTC, the hourly and daily trends remain bearish. Watch for short-term buying to fade and the 15-minute chart to realign to the downside.
NZD/JPY is also strongly bearish from the 15-minute chart upward. Watch whether the neutral short-term signal turns bearish.
Wait for the Signals to Align
GBP/USD is strongly bullish in the short term but neutral on the hourly and daily charts. Watch whether short-term strength extends to the hourly chart.
Natural gas is strongly bullish on the hourly chart, but strongly bearish on the five-minute chart and neutral on the daily chart. Wait for the 15-minute chart to improve.
Copper is strongly bearish on the 15-minute and hourly charts, but neutral on the daily chart. Watch whether short-term weakness extends to the daily timeframe.
Key Takeaways
CAD/JPY’s strong buying across all timeframes coincides with strong selling across all timeframes in USD/CAD. Canadian-dollar strength is showing up across multiple pairs.
Sterling has also improved relative to other currencies: GBP/CHF is strongly bullish across all timeframes, EUR/GBP is strongly bearish across all timeframes, and GBP/JPY is strongly bullish through the hourly chart. GBP/USD remains neutral on the higher timeframes, however, so sterling’s strength against the US dollar still needs confirmation.
Buying signals have spread across equity indices, but the picture differs by market. The S&P 500 and DAX are aligned through the daily chart, while the daily signals for the Nasdaq 100 and Nikkei remain neutral.
Gold, silver and BTC remain bearish on the hourly and daily charts. Do not assume that improving equity signals apply to other markets; focus on how each instrument’s 15-minute, hourly and daily signals align.
