📊 Technical Analysis | July 14, 2026
■ Market Overview
Today’s market is being driven by three major themes:
Higher crude oil prices, continued resilience in USD/JPY, and renewed strength in the Australian and New Zealand dollars.
WTI crude oil is the strongest asset in the market. It has climbed above $80, with strong buy signals across every timeframe from the 5-minute chart through the daily chart.
In FX, USD/JPY is trading around 162.22. The daily trend remains strongly bullish, but the 15-minute and hourly charts have turned sharply lower, suggesting that upside momentum is beginning to fade in the short term.
Among the major dollar pairs, AUD/USD and NZD/USD remain strongly bullish on both the hourly and daily charts, reflecting renewed demand for commodity currencies. EUR/USD, however, remains weak through the daily timeframe, confirming continued underperformance in the euro.
Among yen crosses, GBP/JPY, AUD/JPY, NZD/JPY, and CAD/JPY remain bullish on the hourly and daily charts, indicating that the broader yen-weakness trend remains intact. EUR/JPY, by contrast, is undergoing a clearer correction.
Equity markets are showing broader signs of stress. The Dow Jones and S&P 500 remain bullish on the daily chart, but short-term weakness is increasing. The Nasdaq 100, DAX, FTSE 100, and CAC 40 are all under pressure.
■ Currency Market
USD/JPY
USD/JPY is trading around 162.22.
The 5-minute chart remains bullish, while the 15-minute and hourly charts are strongly bearish. The daily chart remains strongly bullish.
The broader dollar-yen uptrend is still intact, but short-term upside momentum has clearly weakened.
The 162 area also remains highly sensitive to possible Japanese intervention, making it more important to wait for confirmation of a pullback rather than chasing the market higher.
The larger trend still favors buying, but this is not an ideal level for aggressive entries.
USD/CHF
USD/CHF is trading around 0.8125.
The 5-minute chart remains bullish, while the 15-minute and hourly charts are bearish. The daily chart remains strongly bullish.
Like USD/JPY, the pair continues to reflect medium-term dollar strength, although short-term momentum has softened.
The broader bias remains positive, but traders should wait for signs that the correction has stabilized before adding exposure.
EUR/USD
EUR/USD is trading near 1.1396.
The 5-minute chart is strongly bearish, the 15-minute chart is bearish, the hourly chart is neutral, and the daily chart remains strongly bearish.
The euro continues to underperform and remains one of the weaker major currencies.
With both short-term and daily momentum pointing lower, selling rallies remains the preferred strategy.
GBP/USD
GBP/USD is trading around 1.3377.
The 15-minute, hourly, and daily charts remain bullish, while the 5-minute chart is bearish.
Sterling continues to show greater resilience than the euro.
If the short-term selling pressure fades, GBP/USD remains an attractive buy-on-dip candidate.
AUD/USD and NZD/USD
AUD/USD is trading around 0.6945.
The 15-minute, hourly, and daily charts all remain strongly bullish.
NZD/USD is trading near 0.5801 and also shows strong buy signals across the 15-minute, hourly, and daily charts.
Both commodity currencies are benefiting from renewed buying interest.
However, AUD/NZD remains strongly bearish across every timeframe, indicating that the New Zealand dollar is currently outperforming the Australian dollar.
Yen Crosses
Most yen crosses remain bullish on the daily timeframe.
The strongest pairs are:
GBP/JPY
AUD/JPY
NZD/JPY
CAD/JPY
GBP/JPY is trading near 217.00, with strong buy signals across the 15-minute, hourly, and daily charts.
AUD/JPY, NZD/JPY, and CAD/JPY also remain firmly bullish on the hourly and daily charts.
This confirms that the broader yen-weakness trend remains intact.
EUR/JPY, however, is bearish from the short-term through the hourly chart, while the daily trend is neutral. It is currently one of the weaker yen crosses.
CHF/JPY is also weak, with a strongly bearish daily trend.
EUR/GBP
EUR/GBP is trading around 0.8519.
The pair remains strongly bearish across all major timeframes.
This clearly reflects ongoing euro weakness and relative sterling strength.
Selling rallies remains the preferred strategy.
■ Commodity Market
Gold
Gold is trading around 4,017.41.
The 5-minute, 15-minute, and daily charts remain strongly bearish, while the hourly chart is also negative.
Gold continues to weaken, and the broader downtrend remains firmly intact.
At this stage, there is still insufficient evidence of a reversal. Selling rallies remains preferable to buying dips.
Silver
Silver is trading around 57.8930.
Strong sell signals are present across every timeframe.
Silver remains even weaker than gold, confirming broad pressure across the precious-metals sector.
For now, the preferred strategy remains selling rallies rather than attempting to buy the decline.
WTI Crude Oil
WTI is trading around 80.76.
Strong buy signals are present across the 5-minute, 15-minute, hourly, and daily charts.
It is currently the strongest asset in the market.
The trend remains fully aligned to the upside, making pullback buying the most attractive strategy.
However, after such a rapid move above $80, short-term overbought conditions should not be ignored.
Natural Gas
Natural gas is trading around 2.890.
The 15-minute chart is strongly bullish, but the hourly and daily charts remain bearish, with the daily trend particularly weak.
The current move appears to be a short-term rebound within a broader downtrend.
Unlike crude oil, natural gas has not yet confirmed a sustainable bullish reversal.
Bitcoin
Bitcoin is trading around $62,668.
The 5-minute and daily charts are bearish, while the hourly chart is neutral.
The asset continues to lack upside momentum and remains vulnerable to further weakness.
For now, selling rallies remains preferable to initiating new long positions.
■ Equity Markets
U.S. Equities
The Dow Jones is trading around 52,498.64.
The 5-minute chart is strongly bullish, the hourly chart is strongly bearish, and the daily chart remains strongly bullish.
The broader uptrend remains intact, but near-term conditions are unstable.
The S&P 500 is trading around 7,515.34.
The 15-minute and hourly charts are bearish, while the daily chart remains strongly bullish.
The longer-term structure remains constructive, but the index is undergoing a short-term correction.
The Nasdaq 100 is trading around 29,264.10.
The 15-minute and hourly charts are strongly bearish, while the daily chart is also bearish.
It is currently the weakest major U.S. equity index.
European Equities
The DAX remains strongly bearish from the 5-minute through the hourly timeframe, while the daily chart is neutral.
The FTSE 100 is strongly bearish on the hourly chart and bearish on the daily timeframe.
The CAC 40 is also strongly bearish on the hourly chart and bearish on the daily chart.
European equities remain under greater pressure than U.S. markets.
Japanese Equities
The Nikkei 225 is trading near 67,750.
The 5-minute and 15-minute charts are strongly bullish, while the daily chart remains bearish.
The market is experiencing a short-term rebound, but the broader trend remains weak.
■ Strength Rankings
S Tier
WTI Crude Oil
NZD/USD
AUD/USD
GBP/JPY
NZD/JPY
A Tier
CAD/JPY
AUD/JPY
GBP/USD
USD/JPY (Daily)
USD/CHF (Daily)
Dow Jones (Daily)
B Tier
S&P 500 (Daily)
Nikkei 225 (Short-Term)
Natural Gas (Short-Term)
NZD/JPY (Hourly)
CAD/JPY (Hourly)
■ Weakness Rankings
S Tier
Silver
Gold
EUR/GBP
AUD/NZD
Nasdaq 100
A Tier
EUR/USD
EUR/JPY (Short-Term)
DAX
FTSE 100
CAC 40
Bitcoin
B Tier
CHF/JPY (Daily)
USD/JPY (Short-Term)
USD/CHF (Short-Term)
S&P 500 (Short-Term)
Nikkei 225 (Daily)
Natural Gas (Daily)
■ Market Themes
The dominant themes today are:
Higher crude oil prices
Weak precious metals
A broader equity-market correction
WTI crude oil has climbed above $80 and remains strongly bullish across all major timeframes, making it the clearest market leader.
Gold and silver remain under heavy selling pressure, confirming broad weakness across precious metals.
In FX, AUD/USD and NZD/USD are among the strongest dollar pairs, while EUR/USD and EUR/GBP continue to underperform.
Among yen crosses, GBP/JPY, AUD/JPY, NZD/JPY, and CAD/JPY remain strong, confirming that the broader yen-weakness trend is still intact.
However, USD/JPY is under short-term selling pressure near 162, where intervention concerns continue to cap the upside.
In equities, the Dow Jones and S&P 500 remain bullish on the daily chart, but the Nasdaq 100 and European indices remain weak.
■ Trading Strategy
Bullish Bias
WTI Crude Oil
NZD/USD
AUD/USD
GBP/JPY
NZD/JPY
Buy-on-Dip Candidates
CAD/JPY
AUD/JPY
GBP/USD
USD/JPY (Daily)
USD/CHF (Daily)
Dow Jones (Daily)
Sell-on-Rally Candidates
Gold
Silver
EUR/GBP
EUR/USD
AUD/NZD
Nasdaq 100
DAX
FTSE 100
CAC 40
Bitcoin
■ Key Risks
WTI crude oil remains exceptionally strong, but after the rapid move above $80, traders should avoid chasing the market and instead wait for pullbacks.
USD/JPY remains bullish on the daily chart, but short-term momentum has turned negative. Intervention risk around 162 remains elevated.
Gold and silver remain firmly bearish, and there is still no convincing reversal signal.
The Nasdaq 100 is now bearish through the daily timeframe and remains significantly weaker than the Dow Jones and S&P 500.
■ Conclusion
The market is currently being driven by higher crude oil prices, weaker precious metals, and a broader correction in equities.
The strongest markets are:
WTI Crude Oil
NZD/USD
AUD/USD
GBP/JPY
NZD/JPY
The weakest markets are:
Silver
Gold
EUR/GBP
AUD/NZD
Nasdaq 100
The preferred approach is to buy pullbacks in strong energy markets, commodity currencies, and selected yen crosses, while selling rallies in precious metals, the euro, the Nasdaq 100, and weaker European equity indices.
