Technical Analysis | July 15, 2026
Market Overview
The dominant themes in today's market are a stronger U.S. dollar, stronger British pound, stronger yen crosses, and higher equity markets.
In the FX market, both USD/JPY and USD/CHF are showing strong buy signals across all timeframes, confirming broad-based dollar strength. USD/JPY has climbed to 162.39, with the overall yen weakness trend remaining firmly intact.
Meanwhile, EUR/USD is generating strong sell signals across every timeframe, highlighting continued weakness in the euro. EUR/GBP is also firmly bearish across all timeframes, reinforcing the clear combination of euro selling and pound buying.
Sterling continues to outperform, with both GBP/USD and GBP/JPY posting strong buy signals across every timeframe. Among the major currencies, the U.S. dollar and the British pound are currently the strongest.
In commodities, gold is experiencing a short-term rebound, but the daily trend remains strongly bearish. Silver and natural gas continue to weaken, with natural gas showing strong sell signals across every timeframe. Crude oil remains strongly bullish on the daily chart, although shorter-term charts indicate a corrective pullback following its recent rally.
Equity markets remain broadly positive. The Dow Jones, S&P 500, FTSE 100, and Nikkei 225 are all showing strength. Notably, the Nikkei has improved significantly from previous sessions, with buy signals from short-term through daily timeframes.
Currency Markets
USD/JPY
USD/JPY is trading at 162.39.
Strong buy signals are present on the 5-minute, 15-minute, hourly, and daily charts.
Both dollar buying and yen selling continue simultaneously, making USD/JPY one of the strongest currency pairs in today's market.
Technically, buying on pullbacks remains the preferred strategy.
However, the 162 area remains sensitive due to intervention concerns from Japanese authorities.
The uptrend remains intact, but waiting for pullbacks is preferable to chasing higher prices.
USD/CHF
USD/CHF is trading at 0.8113.
Strong buy signals are also present across every timeframe.
Like USD/JPY, the pair clearly reflects broad-based dollar strength.
USD/CHF continues to serve as an important confirmation of overall dollar momentum.
Buying on pullbacks remains the preferred approach.
EUR/USD
EUR/USD is trading at 1.1408.
Strong sell signals are present across every timeframe.
The combination of dollar strength and euro weakness makes EUR/USD one of the weakest major currency pairs.
With bearish signals aligned from short-term through daily charts, selling into rallies remains the preferred strategy.
GBP/USD
GBP/USD is trading at 1.3407.
Strong buy signals are present across every timeframe.
Unlike EUR/USD, sterling remains exceptionally strong.
Despite the stronger dollar environment, the pound continues to outperform, highlighting its own independent strength.
GBP/USD remains one of the cleanest pullback-buying opportunities.
AUD & NZD
AUD/USD is trading at 0.6983.
The hourly and daily charts remain strongly bullish, while shorter-term signals have weakened slightly.
The medium- and long-term outlook remains positive despite limited short-term momentum.
NZD/USD is trading at 0.5818.
The daily chart remains strongly bullish, although the 5-minute and 15-minute charts are showing selling pressure.
Like AUD/USD, the medium-term trend remains constructive despite short-term consolidation.
AUD/NZD continues to generate strong daily sell signals, confirming that the New Zealand dollar remains stronger than the Australian dollar.
Yen Crosses
Yen crosses remain broadly strong.
The strongest pairs are:
GBP/JPY
AUD/JPY
NZD/JPY
CAD/JPY
GBP/JPY is trading at 217.70, with strong buy signals across every timeframe.
AUD/JPY and NZD/JPY also remain strongly bullish on the hourly and daily charts, confirming that the broader yen weakness trend continues.
CAD/JPY remains bullish on the daily timeframe, although short-term selling pressure has emerged.
In contrast, CHF/JPY is showing strong sell signals across every timeframe.
Despite the overall yen-selling environment, CHF/JPY is currently the weakest of the major yen crosses.
EUR/GBP
EUR/GBP is trading at 0.8510.
Strong sell signals are present across every timeframe.
The combination of euro weakness and sterling strength remains exceptionally clear.
EUR/GBP continues to favor selling into rallies.
Commodities
Gold
XAU/USD is trading at 4,038.70.
Strong buy signals are present on the 5-minute and 15-minute charts, while the daily chart remains strongly bearish.
Gold futures are trading at 4,043.72, showing similar conditions.
Although a short-term rebound is underway, the broader downtrend remains intact.
Long positions are suitable only for short-term trading, while the daily trend continues to favor selling into rallies.
Silver
XAG/USD is trading at 58.1045.
Strong sell signals are present on the 15-minute, hourly, and daily charts.
Silver futures are also broadly bearish.
Silver continues to underperform gold and remains one of the weakest precious metals.
Selling into rallies remains the preferred strategy.
Crude Oil
WTI crude is trading at 79.65.
The daily chart remains strongly bullish, while the 5-minute, 15-minute, and hourly charts have turned bearish.
Following the recent sharp rally, the market has entered a short-term correction.
The broader uptrend remains intact, but waiting for pullbacks is preferable to chasing prices higher.
Natural Gas
Natural gas is trading at 2.888.
Strong sell signals are present across every timeframe.
It remains one of the weakest instruments in the commodity market.
Selling into rallies continues to be the preferred strategy.
Bitcoin
BTC/USD is trading at 64,706.
Short-term charts remain strongly bearish, while the daily chart remains bullish.
The hourly chart is neutral, reflecting a conflict between short-term weakness and longer-term strength.
Although Bitcoin has recovered from previous lows, the short-term technical picture remains unstable.
Waiting for the current correction to finish appears safer than chasing higher prices.
Equity Markets
U.S. Stocks
The Dow Jones is trading at 52,508.27.
Strong buy signals are present on the 15-minute, hourly, and daily charts.
The Dow remains one of the strongest U.S. equity indices.
The S&P 500 is trading at 7,543.59.
The 5-minute chart is bearish, while the hourly and daily charts remain strongly bullish.
Short-term profit-taking has emerged, but the larger trend remains positive.
NASDAQ 100 is trading at 29,586.29.
The hourly chart is bullish, while the daily chart remains neutral.
Compared with the Dow and S&P 500, the Nasdaq is showing less momentum.
European Stocks
DAX is strong in the short term but remains bearish on the hourly chart, while the daily trend is neutral.
FTSE 100 is strongly bullish from the 5-minute through hourly charts, while the daily chart remains neutral.
CAC 40 is also rebounding strongly in the short term but has yet to confirm a daily uptrend.
European equities have improved in the short term but have not yet fully recovered on the larger timeframe.
Japanese Stocks
The Nikkei 225 is trading at 68,751.51.
Strong buy signals are present on the 5-minute, 15-minute, hourly, and daily charts.
The Nikkei has improved significantly compared with previous sessions and is now among the strongest equity indices.
Strength Ranking
S Rank
USD/JPY
USD/CHF
GBP/USD
GBP/JPY
Dow Jones
Nikkei 225
A Rank
S&P 500
AUD/JPY
NZD/JPY
AUD/USD (Daily)
NZD/USD (Daily)
FTSE 100 (Short-term)
B Rank
DAX (Short-term)
CAC 40 (Short-term)
WTI Crude Oil (Daily)
Bitcoin (Daily)
EUR/CHF (Daily)
Weakness Ranking
S Rank
EUR/USD
CHF/JPY
EUR/GBP
Natural Gas
Silver
A Rank
AUD/NZD
Silver Futures
WTI Crude Oil (Short-term)
Bitcoin (Short-term)
CAD/JPY (Short-term)
B Rank
Gold (Daily)
EUR/JPY (Short-term)
NZD/USD (Short-term)
S&P 500 (Short-term)
NASDAQ 100 (Short-term)
Market Theme
The dominant themes today are a stronger U.S. dollar, stronger British pound, and stronger global equity markets.
USD/JPY and USD/CHF continue to confirm broad-based dollar strength across every timeframe.
At the same time, GBP/USD and GBP/JPY remain strongly bullish, highlighting sterling's continued outperformance.
Conversely, EUR/USD and EUR/GBP remain bearish across every timeframe, emphasizing persistent euro weakness.
In commodities, gold is experiencing only a short-term rebound while its daily trend remains bearish. Silver and natural gas remain significantly weaker, while crude oil continues to trend higher on the daily timeframe despite short-term consolidation.
Equity markets remain broadly positive, led by the Dow Jones, S&P 500, and Nikkei 225.
Trading Strategy
Bullish
USD/JPY
USD/CHF
GBP/USD
GBP/JPY
Dow Jones
Nikkei 225
Buy on Pullbacks
S&P 500
AUD/JPY
NZD/JPY
AUD/USD (Daily)
NZD/USD (Daily)
WTI Crude Oil (Daily)
Sell on Rallies
EUR/USD
EUR/GBP
CHF/JPY
Natural Gas
Silver
AUD/NZD
Markets Requiring Caution
USD/JPY remains strongly bullish across every timeframe, but intervention concerns remain elevated above 162. While the primary trend favors buyers, sudden downside moves remain a risk.
WTI crude oil remains bullish on the daily chart but is undergoing a short-term correction. Waiting for pullbacks is preferable to chasing higher prices.
Gold is recovering in the short term, but the daily trend remains bearish. Short-term longs are possible, but traders should remain cautious of renewed selling pressure.
Bitcoin remains bullish on the daily timeframe but bearish over the short term. Waiting for the current correction to stabilize is likely the safer approach.
Summary
Today's market is primarily characterized by dollar strength, sterling strength, and rising equity markets.
The strongest assets are USD/JPY, USD/CHF, GBP/USD, GBP/JPY, the Dow Jones, and the Nikkei 225.
Meanwhile, EUR/USD, CHF/JPY, EUR/GBP, natural gas, and silver remain the weakest markets and continue to favor selling into rallies.
Overall, the preferred strategy is to buy pullbacks in the stronger U.S. dollar pairs, sterling, and major equity indices while looking to sell rallies in the euro, natural gas, and silver.
