【Technical Analysis】10 August 2026
■ Overview
The main themes in the current market are rising equities, a short-term yen-selling rebound, sterling strength, and precious-metals strength.
In FX, GBP/USD shows strong buying across all timeframes and is the strongest of the major dollar pairs. EUR/USD, AUD/USD, and NZD/USD remain strong buys on the daily chart, but short-term selling is emerging, indicating a correction within the broader dollar-weakness trend.
USD/JPY has risen to 158.84. The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart remains a strong sell. Short-term yen selling is strong, but the broader yen-strength trend is still intact.
Among yen crosses, GBP/JPY, AUD/JPY, CAD/JPY, NZD/JPY, and CHF/JPY are strong from short-term to hourly timeframes. However, many remain bearish or neutral on the daily chart, creating a clash between the short-term rebound and the daily downtrend.
In commodities, gold and silver remain strong on the daily chart, while BTC is also a strong daily buy. WTI crude oil and natural gas are rebounding in the short term, but daily-chart weakness remains.
Equity markets are broadly strong. The Dow, S&P 500, NASDAQ 100, DAX, CAC 40, and Nikkei are all positive, with the S&P 500, NASDAQ 100, CAC 40, and Nikkei showing strong buying across all timeframes.
■ Currency Markets
USD/JPY
USD/JPY is at 158.84.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is a strong sell.
Strong short-term buying has lifted the pair into the upper 158 range. However, the daily chart remains bearish, making this move more naturally viewed as a rebound after the sharp decline from the 163 range.
Short-term buying is dominant, but daily-chart selling remains a concern. Any long positions should be treated as short-term trades. Rather than chasing higher prices, it is preferable to wait for pullbacks and assess whether upside momentum begins to weaken.
USD/CHF
USD/CHF is at 0.8088.
The 5-minute and 15-minute charts are strong buys, while the hourly and daily charts are neutral.
Short-term dollar buying is emerging, but there is still no clear trend on the hourly and daily charts. Although the short-term buying is stronger than in USD/JPY, it is too early to confirm a daily trend reversal.
Short-term longs remain possible, but chasing the move requires caution.
EUR/USD
EUR/USD is at 1.1550.
The 5-minute and 15-minute charts are strong sells, the hourly chart is a sell, and the daily chart is a strong buy.
The broader euro-buying and dollar-selling trend remains intact on the daily chart, but short-term profit-taking is emerging.
The larger trend remains bullish, but the pair is currently in a correction phase. For long positions, it is preferable to wait until short-term selling stabilizes and the 15-minute and hourly charts return to buy signals.
GBP/USD
GBP/USD is at 1.3500.
All timeframes—the 5-minute, 15-minute, hourly, and daily charts—show strong buying.
It is one of the strongest currency pairs in the current market. Sterling buying and dollar selling are clear, with direction fully aligned from short-term charts through the daily chart.
Buying on pullbacks remains favored. However, with the pair already trading in the 1.3500 range, waiting for a pullback is preferable to chasing highs.
AUD/USD and NZD/USD
AUD/USD is at 0.7063.
The 5-minute and 15-minute charts are strong sells, the hourly chart is neutral, and the daily chart is a strong buy.
NZD/USD is at 0.5889.
The 5-minute and 15-minute charts are also strong sells, the hourly chart is neutral, and the daily chart is a strong buy.
Both the Australian and New Zealand dollars remain favorable on the daily chart, but are being pressured by short-term dollar buying.
AUD/NZD shows buying on the 5-minute, 15-minute, and hourly charts, while the daily chart is bearish. The Australian dollar is slightly stronger than the New Zealand dollar in the short term, but the daily chart still favors the New Zealand dollar.
Yen Crosses
Yen crosses are showing a strong yen-selling rebound from short-term through hourly timeframes.
The strongest short-term pairs are:
● GBP/JPY
● AUD/JPY
● CAD/JPY
● NZD/JPY
● CHF/JPY
GBP/JPY is at 214.43.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is neutral. It is one of the most straightforwardly strong yen crosses.
AUD/JPY is at 112.18.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is neutral. Buying dominates from short-term to hourly charts, but the daily chart has not yet returned to a clear uptrend.
CAD/JPY is at 113.94.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is a sell. The short-term rebound is strong, but daily-chart selling pressure remains a concern.
NZD/JPY is at 93.55.
The 15-minute chart is a buy, the hourly chart is a strong buy, and the daily chart is neutral.
CHF/JPY is at 196.42.
The 15-minute chart is a buy, the hourly chart is a strong buy, and the daily chart is a strong sell.
Short-term yen selling is noticeable, but many pairs still retain a yen-strength bias on the daily chart. Caution is needed because the short-term rebound conflicts with the daily downtrend.
EUR/GBP
EUR/GBP is at 0.8556.
The 5-minute, 15-minute, and hourly charts are strong sells, while the daily chart is neutral.
Sterling is clearly stronger than the euro. GBP/USD is a strong buy across all timeframes, while EUR/USD is facing short-term selling pressure.
EUR/GBP remains favorable for selling rallies.
■ Commodity Markets
Gold
XAU/USD is at 4,337.09.
The 15-minute chart is a strong sell, while the daily chart is a strong buy.
Gold futures are at 4,396.42, with the 15-minute chart also a strong sell and the daily chart a strong buy.
The broader gold uptrend remains intact, but short-term profit-taking is emerging. With prices trading in the upper 4,300 range, a high-level correction is more likely.
The long-term buying trend remains favorable, but waiting for a pullback is preferable to chasing highs.
Silver
XAG/USD is at 64.0590.
The 5-minute chart is a strong buy, the 15-minute chart is neutral, and the hourly and daily charts are strong buys.
Silver futures are also strong buys on the hourly and daily charts.
Silver has a slightly stronger short-term structure than gold and stands out within the precious-metals market. Buying on pullbacks remains favorable, although the move into the 64 range requires caution over short-term overheating.
WTI Crude Oil
WTI crude oil is at 79.47.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is neutral.
Oil, which had been weak previously, is showing a short-term rebound. However, the daily chart remains neutral, so it is too early to call this a full resumption of the uptrend.
Short-term buying is favored, but chasing the move should be avoided until daily-chart improvement is confirmed. If considering longs, it is preferable to see whether buying continues after a recovery above $80.
Natural Gas
Natural gas is at 2.766.
The 5-minute, 15-minute, and hourly charts are strong buys, while the daily chart is a strong sell.
A strong short-term rebound is underway, but the broader trend remains bearish. Long positions should therefore be short-term only, with selling rallies remaining the primary concern.
BTC
BTC/USD is at $65,105.
The 15-minute chart is a strong sell, while the daily chart is a strong buy.
Short-term profit-taking is emerging, but the daily-chart bullish trend remains intact. This appears to be a temporary correction after the previous strong advance.
For long positions, it is important to wait for the short-term selling pressure to settle and confirm a pullback low.
■ Equity Markets
U.S. Equities
The Dow is at 54,036.93.
The 5-minute and 15-minute charts are strong buys, the hourly chart is a buy, and the daily chart is a strong buy.
It is one of the stronger U.S. equity indices, with buying aligned from short-term through daily timeframes. It is relatively easy to view as a buy-on-pullbacks candidate.
The S&P 500 is at 7,757.64.
All timeframes show strong buying. It is one of the strongest indices in the current market.
The NASDAQ 100 is at 29,722.30.
It also shows strong buying across all timeframes. The previous short-term profit-taking has improved substantially, and buying has returned to technology stocks.
U.S. equities are broadly buy-favored.
European Equities
The DAX is at 26,408.60.
The 15-minute chart is a buy, while the hourly and daily charts are strong buys. Buying dominates from short-term through daily charts.
The UK 100 is at 10,878.21.
The 5-minute chart is a strong buy, while the 15-minute and hourly charts are strong sells, and the daily chart is a strong buy. Short-term and daily directions are divided, making it relatively unstable among European indices.
The CAC 40 is at 8,727.53.
All timeframes are strong buys. Together with the DAX, it has one of the clearest bullish structures among European equities.
Japanese Equities
The Nikkei is at 66,970.22.
All timeframes show strong buying. It is one of the strongest indices in the current market, with direction fully aligned from short-term through daily charts.
■ Strength Ranking
S Rank
S&P 500
NASDAQ 100
Nikkei
CAC 40
GBP/USD
AUD/JPY short-term
CAD/JPY short-term
A Rank
Dow
DAX
AUD/USD daily chart
NZD/USD daily chart
XAG/USD
XAU/USD daily chart
WTI crude oil short-term
B Rank
EUR/USD daily chart
GBP/JPY short-term
NZD/JPY hourly chart
CHF/JPY hourly chart
AUD/NZD short-term
EUR/CHF daily chart
Natural gas short-term
■ Weakness Ranking
S Rank
EUR/GBP
USD/JPY daily chart
CHF/JPY daily chart
WTI crude oil: lack of daily-chart direction
UK 100 short-term
A Rank
EUR/USD short-term
AUD/USD short-term
NZD/USD short-term
BTC short-term
XAU/USD short-term
USD/CHF daily-chart neutrality
B Rank
Yen crosses on the daily chart
AUD/NZD daily chart
Natural gas daily chart
EUR/CHF short-term
■ Market Themes
The central themes are rising equities, a short-term yen-selling rebound, sterling strength, and precious-metals strength.
GBP/USD is the strongest FX pair, with strong buying across all timeframes. EUR/USD, AUD/USD, and NZD/USD remain strong daily-chart buys, although short-term selling indicates a partial dollar rebound.
USD/JPY is a strong buy from short-term through hourly charts, but remains a strong daily sell. The pair is rebounding after a sharp decline, while the broader daily yen-strength trend has not yet broken down.
Yen crosses are also strong in the short term, reflecting continued yen selling. However, pairs such as CHF/JPY and CAD/JPY remain weak on the daily chart, so this should be viewed cautiously as a rebound within a broader downtrend.
Gold and silver remain strong on the daily chart. Oil and natural gas are rebounding in the short term, but have not yet confirmed a full bullish reversal on the daily chart.
Equities are broadly strong across the U.S., Japan, and Europe. The S&P 500, NASDAQ 100, Nikkei, and CAC 40 show strong buying across all timeframes.
■ Trading Strategy
Buy-Favored
S&P 500
NASDAQ 100
Nikkei
CAC 40
GBP/USD
AUD/JPY short-term
CAD/JPY short-term
Buy-on-Pullbacks Candidates
Dow
DAX
AUD/USD daily chart
NZD/USD daily chart
XAG/USD
XAU/USD daily chart
WTI crude oil short-term
EUR/CHF daily chart
Sell-on-Rallies Candidates
EUR/GBP
USD/JPY daily chart
CHF/JPY daily chart
BTC short-term
XAU/USD short-term
AUD/NZD daily chart
Natural gas daily chart
Pairs and Markets Requiring Caution
USD/JPY is a strong short-term buy but remains a strong daily sell. The rebound is clear, but selling pressure remains a concern in the broader trend.
Yen crosses are strong in the short term, but many remain bearish or neutral on the daily chart. They should be treated as rebounds within a broader yen-strength trend.
GBP/USD is a strong buy across all timeframes, favoring buying on pullbacks. However, caution is needed when chasing highs near 1.3500.
Gold is a strong daily buy but shows short-term selling. This appears to be a pullback within the uptrend, but a short-term reversal confirmation is needed.
BTC remains a strong daily buy but a strong 15-minute sell. It is preferable to wait for the short-term correction to stabilize before considering longs.
Equity indices are broadly strong, particularly the S&P 500, NASDAQ 100, Nikkei, and CAC 40. Since they are near high levels, waiting for pullbacks is preferable to entering impulsively.
■ Summary
The current market is centered on rising equities, a short-term yen-selling rebound, sterling strength, and precious-metals strength.
The strongest markets are the S&P 500, NASDAQ 100, Nikkei, CAC 40, GBP/USD, short-term AUD/JPY, and short-term CAD/JPY.
EUR/GBP, daily-chart USD/JPY, daily-chart CHF/JPY, short-term UK 100, short-term BTC, and short-term XAU/USD remain weak and are candidates for selling rallies.
Overall, the preferred approach is to look for buying opportunities on pullbacks in strong equity indices, GBP/USD, short-term yen crosses, silver, and daily-chart gold, while considering sell-on-rallies setups in EUR/GBP, daily-chart USD/JPY, daily-chart CHF/JPY, and short-term BTC.
