Technical Analysis — August 7, 2026
■ Market Overview
The main themes in the current market are dollar weakness, a short-term rebound in yen crosses, strength in precious metals and BTC, and rising European equities.
In the currency market, EUR/USD, AUD/USD, and NZD/USD show strong buy signals across all timeframes, confirming that the dollar-selling trend remains intact. GBP/USD is also showing strong buy signals on the 5-minute, 15-minute, and daily charts, leaving dollar pairs broadly biased to the upside.
USD/JPY has rebounded to 158.36, but the hourly and daily charts remain strong sells. Although the pair is recovering from its previous decline, the broader trend still calls for caution toward selling into rallies.
Yen crosses, including EUR/JPY, AUD/JPY, NZD/JPY, CAD/JPY, and CHF/JPY, show strong buy signals from the short-term charts through the hourly chart. However, their daily charts remain strong sells, creating a conflict between the short-term rebound and the broader daily downtrend.
In commodities, gold, silver, and BTC remain strong. BTC is particularly notable, with strong buy signals across all timeframes. Gold also shows strong buy signals on the 15-minute, hourly, and daily charts, maintaining the precious-metals rally. In contrast, WTI crude oil and natural gas remain strong sells on the daily chart, leaving the energy market weak.
In equities, the DAX, FTSE 100, CAC 40, and Nikkei Average remain strong, with European and Japanese stocks showing clear buying momentum. US equities are also strong on the daily chart, but short-term selling is emerging as investors take profits near recent highs.
■ Currency Market
USD/JPY
USD/JPY is trading at 158.36.
The 5-minute chart is neutral, the 15-minute chart is a sell, while the hourly and daily charts are strong sells.
The pair has rebounded somewhat, but selling pressure remains dominant on the hourly and daily charts. The move is best viewed as a rebound following the sharp decline from the 163 range, rather than a full-scale shift back into a bullish USD/JPY trend.
Short-term stabilization is visible, but the broader outlook still favors caution toward selling rallies. Long positions should be treated as short-term trades only.
USD/CHF
USD/CHF is trading at 0.8105.
The 5-minute, 15-minute, and hourly charts all show strong sell signals, while the daily chart is neutral.
Dollar selling is clear in the short term and on the hourly chart. Although the daily chart is neutral and does not show as strong a downtrend as USD/JPY, selling rallies remains the preferred approach for now.
USD/CHF continues to confirm the overall weakness of the dollar.
EUR/USD
EUR/USD is trading at 1.1534.
The 5-minute, 15-minute, hourly, and daily charts all show strong buy signals.
Euro strength and dollar weakness are very clear, making EUR/USD one of the strongest dollar pairs in the current market. Buying signals are aligned from the short-term charts through the daily chart, favoring buy-on-dips strategies.
However, as the pair has already risen significantly, it is preferable to wait for a pullback rather than chase higher prices.
GBP/USD
GBP/USD is trading at 1.3447.
The 5-minute and 15-minute charts show strong buy signals, the hourly chart is neutral, and the daily chart is a strong buy.
The pound remains strong against the dollar. Although the hourly chart is neutral and momentum is less fully aligned than in EUR/USD, AUD/USD, and NZD/USD, the short-term and daily charts remain clearly bullish.
For long positions, it would be preferable to see the hourly chart return to a buy signal.
AUD/USD and NZD/USD
AUD/USD is trading at 0.7040.
The 5-minute, 15-minute, hourly, and daily charts all show strong buy signals. The Australian dollar remains very strong and is reflecting the dollar-selling trend directly.
NZD/USD is trading at 0.5870.
It also shows strong buy signals across all timeframes.
Both AUD/USD and NZD/USD remain clearly biased to the upside.
AUD/NZD shows a buy signal on the 15-minute chart and a strong buy signal on the hourly chart, while the daily chart remains a strong sell. The Australian dollar is recovering in the short and medium term, but the New Zealand dollar remains stronger from a daily-chart perspective.
Yen Crosses
Yen crosses are showing a strong rebound from the short-term charts through the hourly chart.
The strongest short-term pairs are:
・EUR/JPY
・AUD/JPY
・NZD/JPY
・CAD/JPY
・CHF/JPY
EUR/JPY is trading at 182.65. The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is a strong sell.
AUD/JPY is trading at 111.49. The short-term and hourly charts are strong buys, while the daily chart is a strong sell.
NZD/JPY is trading at 92.96. The short-term and hourly charts are strong buys, while the daily chart remains a strong sell.
CAD/JPY is trading at 113.08. The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is a strong sell.
CHF/JPY is trading at 195.41. The 5-minute chart is a buy, the 15-minute and hourly charts are strong buys, while the daily chart is a strong sell.
Overall, yen crosses are seeing a strong short-term return of yen selling. However, as daily charts remain strongly bearish across many pairs, the current rise is more naturally viewed as a rebound within the broader yen-strengthening trend.
EUR/GBP
EUR/GBP is trading at 0.8578.
The 5-minute chart is neutral, the 15-minute and hourly charts are strong buys, and the daily chart is a buy.
Both the euro and pound are strong against the dollar, but the euro is relatively stronger. EUR/GBP is therefore an attractive buy-on-dips candidate.
■ Commodities and BTC
Gold
XAU/USD is trading at 4,314.36.
The 5-minute chart is neutral, while the 15-minute, hourly, and daily charts are strong buys.
Gold futures are trading at 4,376.01, with strong buy signals on the 15-minute, hourly, and daily charts.
Gold remains very strong and continues to lead the precious-metals market. While it is trading at elevated levels above 4,300, the technical outlook remains bullish. Buying after a short-term pullback is preferable to chasing higher prices.
Silver
XAG/USD is trading at 64.0785.
The 5-minute chart is a sell, the 15-minute chart is neutral, while the hourly and daily charts are strong buys.
Silver futures also show short-term selling, but the hourly and daily charts remain strong buys.
Profit-taking is appearing in the short term, but the broader trend remains bullish. Silver is less straightforward than gold in the short term, though it maintains a strong uptrend on the hourly and daily charts.
WTI Crude Oil
WTI crude oil is trading at 77.00.
The 5-minute chart is a buy, while the 15-minute, hourly, and daily charts are strong sells.
Selling signals are aligned through the daily chart, leaving crude oil in a weak condition. A temporary short-term rebound is possible, but the broader bias remains toward selling rallies.
Long positions would require improvement at least on the 15-minute and hourly charts.
Natural Gas
Natural gas is trading at 2.646.
The 5-minute chart is a strong buy, the 15-minute chart is neutral, the hourly chart is a sell, and the daily chart is a strong sell.
A short-term rebound is underway, but the broader trend remains bearish. Given the weakness on the daily chart, long positions should be limited to short-term trades. The basic stance remains caution toward selling rallies.
BTC
BTC/USD is trading at $65,255.
The 5-minute, 15-minute, hourly, and daily charts all show strong buy signals.
BTC is one of the strongest risk assets in the current market. Buying signals are fully aligned from the short-term charts through the daily chart, making it one of the clearest buy-on-dips candidates.
However, after a sharp advance, it is safer to wait for a pullback rather than enter impulsively at higher levels.
■ Equity Market
US Equities
The Dow Jones Industrial Average is trading at 53,885.10.
The 5-minute and 15-minute charts are strong sells, the hourly chart is neutral, and the daily chart is a strong buy.
Short-term profit-taking is emerging, but the broader trend remains bullish.
The S&P 500 is trading at 7,709.96.
The 5-minute chart is a strong sell, the 15-minute chart is a sell, the hourly chart is neutral, and the daily chart is a strong buy.
The daily-chart uptrend remains intact, but a short-term correction is underway.
The NASDAQ 100 is trading at 29,373.33.
The 5-minute and 15-minute charts are strong sells, the hourly chart is neutral, and the daily chart is a strong buy.
US equities remain strong on the daily chart, but short-term profit-taking is prominent. The current move is best viewed as the formation of a pullback within a broader uptrend.
European Equities
The DAX is trading at 26,362.41.
The 15-minute, hourly, and daily charts are strong buys. The 5-minute chart is neutral, but the overall bias remains bullish.
The FTSE 100 is trading at 10,942.09.
The 15-minute, hourly, and daily charts are strong buys. The 5-minute chart is neutral, but the broader uptrend continues.
The CAC 40 is trading at 8,734.38.
The 5-minute chart is a buy, while the 15-minute, hourly, and daily charts are strong buys.
Among European equities, the CAC 40 shows the clearest bullish structure.
European equities remain broadly stronger than US equities in the short term.
Japanese Equities
The Nikkei Average is trading at 65,606.71.
The 5-minute, 15-minute, hourly, and daily charts all show strong buy signals.
The Nikkei is one of the strongest indices in the current market. Direction is completely aligned from the short-term charts through the daily chart, favoring buy-on-dips strategies.
■ Strength Ranking
S Rank
EUR/USD
AUD/USD
NZD/USD
BTC/USD
XAU/USD
Nikkei Average
CAC 40
A Rank
GBP/USD
XAG/USD
DAX
FTSE 100
EUR/JPY short term
AUD/JPY short term
NZD/JPY short term
CAD/JPY short term
B Rank
CHF/JPY short term
EUR/GBP
EUR/CHF daily chart
AUD/NZD hourly chart
Dow Jones daily chart
S&P 500 daily chart
NASDAQ 100 daily chart
■ Weakness Ranking
S Rank
USD/JPY daily chart
USD/CHF short term
WTI crude oil
Yen crosses daily chart
AUD/NZD daily chart
A Rank
EUR/JPY daily chart
GBP/JPY daily chart
CHF/JPY daily chart
AUD/JPY daily chart
NZD/JPY daily chart
CAD/JPY daily chart
US equities short term
B Rank
Natural gas daily chart
Dow Jones short term
S&P 500 short term
NASDAQ 100 short term
XAG/USD short term
US dollar overall
■ Market Themes
The central themes are dollar weakness, a short-term rebound in yen crosses, strength in precious metals and BTC, and rising European equities.
EUR/USD, AUD/USD, and NZD/USD are strong buys across all timeframes, confirming continued dollar weakness. GBP/USD is also strong on the short-term and daily charts, although its neutral hourly chart shows slightly less momentum than the euro, Australian dollar, and New Zealand dollar.
USD/JPY has rebounded into the 158 range, but its hourly and daily charts remain strong sells. The pair is still in a rebound phase following a sharp decline and cannot yet be regarded as having shifted into a sustained bullish trend.
Yen crosses show strong buying from the short-term charts through the hourly chart, reflecting a return of yen selling. However, daily charts remain strong sells across many pairs, making the current rise more likely a technical rebound within the broader yen-strengthening trend.
Gold, silver, and BTC remain strong, with BTC showing strong buy signals across all timeframes. Capital continues to flow into precious metals and digital assets.
European equities and the Nikkei Average remain strong, led by the DAX, FTSE 100, CAC 40, and Nikkei. US equities remain strong on the daily chart but are seeing short-term profit-taking.
■ Trading Strategy
Buy-Dominant Markets
EUR/USD
AUD/USD
NZD/USD
BTC/USD
XAU/USD
Nikkei Average
CAC 40
Potential Buy-on-Dips Opportunities
GBP/USD
XAG/USD
DAX
FTSE 100
EUR/JPY short term
AUD/JPY short term
NZD/JPY short term
CAD/JPY short term
EUR/GBP
Potential Rally-Selling Opportunities
USD/JPY daily chart
USD/CHF short term
WTI crude oil
EUR/JPY daily chart
GBP/JPY daily chart
AUD/JPY daily chart
NZD/JPY daily chart
CAD/JPY daily chart
AUD/NZD daily chart
■ Summary
The current market is defined by dollar weakness, a short-term rebound in yen crosses, strength in precious metals and BTC, and rising European equities.
The strongest markets are EUR/USD, AUD/USD, NZD/USD, BTC/USD, XAU/USD, the Nikkei Average, and the CAC 40.
Meanwhile, USD/JPY on the daily chart, USD/CHF in the short term, WTI crude oil, yen crosses on the daily chart, and AUD/NZD on the daily chart remain weak and favor selling into rallies.
Overall, the market favors buying dips in strong dollar pairs, gold, BTC, European equities, and the Nikkei Average, while looking to sell rallies in weak USD/JPY on the daily chart, short-term USD/CHF, crude oil, yen crosses on the daily chart, and AUD/NZD on the daily chart.
