【Technical Analysis】19 August 2026
■ Summary
The key themes are euro strength, pound strength, New Zealand dollar strength, Swiss franc strength, higher oil prices, and short-term corrections in equity indices.
EUR/USD, GBP/USD, NZD/USD, and EUR/CHF show aligned buying signals from short-term charts through the daily chart, confirming clear dollar selling alongside buying of European currencies and the New Zealand dollar.
USD/JPY, meanwhile, is rated Strong Sell across all timeframes. Having declined into the low-159 range, short-term dollar selling and yen buying are particularly strong.
Many yen crosses retain daily-chart buy signals, but strong selling has spread across the short-term and hourly charts. Short-term yen buying is intensifying, creating a correction in the previous uptrend across yen crosses.
In commodities, spot gold, gold futures, and WTI crude are rated Strong Buy across all timeframes. WTI has risen above $85 and continues to show an exceptionally strong uptrend. Natural gas is also rated Strong Buy from short-term through hourly charts.
Equity markets show strong selling from short-term through hourly charts across many U.S., European, and Japanese indices. The S&P 500 and Nasdaq 100 retain daily-chart buy signals but are clearly in a short-term correction. The Nikkei average is also rated Sell on the daily chart, making it notably weaker than other major indices.
■ Currency Markets
USD/JPY
USD/JPY is trading at 159.05.
The 5-minute, 15-minute, hourly, and daily charts are all rated Strong Sell.
Selling signals are aligned not only in the short term but also on the daily chart, making USD/JPY the clearest dollar-selling and yen-buying combination in the FX market.
The pair has fallen into the low-159 range, with the resistance seen around 160 now translating into actual selling pressure.
The basic strategy remains selling on rebounds.
However, the 159 area is also an important recent level. If the pair becomes oversold in the short term, caution is needed for a corrective rebound. Rather than chasing the decline, it is preferable to wait for a rebound and confirm renewed selling pressure near the highs.
USD/CHF
USD/CHF is trading at 0.8102.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Neutral.
Dollar selling and Swiss franc buying are very strong from short-term through hourly charts, but the daily chart remains neutral, meaning the medium- to long-term direction is not yet confirmed.
As with USD/JPY, short-term dollar selling is strong. However, USD/CHF has not yet confirmed a daily-chart downtrend.
Selling on rebounds is favored in the short term, while attention should remain on whether the daily chart turns bearish or recovers from neutral to buy territory.
EUR/USD
EUR/USD is trading at 1.1611.
All timeframes from the 5-minute chart through the daily chart are rated Strong Buy.
Euro buying and dollar selling are fully aligned from the short term through the daily timeframe.
EUR/USD is one of the strongest major dollar pairs. It has moved above 1.1600 and is likely to remain a focal point for broader dollar selling.
The basic strategy is to buy on dips.
However, when buying signals align across all timeframes, short-term overbought conditions can also emerge easily. It is preferable to wait for a short-term pullback and confirmation of renewed upside rather than chasing the market higher.
GBP/USD
GBP/USD is trading at 1.3562.
All timeframes from the 5-minute chart through the daily chart are rated Strong Buy.
Pound buying and dollar selling are very clear.
Like EUR/USD, buying signals are aligned from the short term through the daily chart, confirming the strength of dollar selling.
As EUR/GBP is rated Strong Buy from the short term through the hourly chart, the euro is relatively stronger than the pound.
GBP/USD also favors buying on dips. However, for traders seeking a more stable euro-long position, EUR/USD and EUR/GBP are also options.
AUD/USD and NZD/USD
AUD/USD is trading at 0.7078.
The 5-minute chart is rated Strong Sell, the 15-minute chart is Neutral, the hourly chart is Sell, and the daily chart is Strong Buy.
The daily-chart AUD-buying trend remains in place, but the short-term and hourly charts show a clear correction.
The previous Australian dollar strength has paused, with short-term AUD selling and dollar buying currently dominant.
This may be viewed as a correction within the daily-chart uptrend, but it is not a situation to rush into long positions. It is better to wait for shorter timeframes to recover from neutral into buy territory.
NZD/USD is trading at 0.5882.
The 5-minute chart is rated Buy, the 15-minute and hourly charts are Strong Buy, and the daily chart is Buy.
NZD buying and dollar selling are aligned from the short term through the daily chart.
While AUD/USD is weak in the short term, NZD/USD remains strongly bid, making the New Zealand dollar the stronger of the two Oceania currencies.
AUD/NZD is rated Strong Sell from the short term through the hourly chart, while the daily chart is Strong Buy.
This indicates short-term NZD strength but daily-chart AUD strength.
■ Yen Crosses
Yen crosses show a conflict between daily-chart buying and short-term-to-hourly selling.
Short-term yen buying is strengthening, pushing the broader yen-cross market into a corrective phase.
EUR/JPY
EUR/JPY is trading at 184.65.
The 5-minute chart is rated Strong Sell, the 15-minute and hourly charts are Neutral, and the daily chart is Strong Buy.
The daily-chart euro-strength and yen-weakness trend remains intact, but selling has emerged in the short term.
EUR/USD is strongly bullish, while USD/JPY is strongly bearish, leaving EUR/JPY without a clear direction.
The daily chart makes it a potential buy-on-dips candidate, but in the short term it is preferable to wait for selling to subside and for the hourly chart to return to buy territory.
GBP/JPY
GBP/JPY is trading at 215.69.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Strong Buy.
The daily uptrend remains intact, but the pair is clearly in a corrective phase from the short term through the hourly chart.
GBP/USD is rated Strong Buy across all timeframes, but USD/JPY is rated Strong Sell across all timeframes, resulting in strong yen-buying pressure in GBP/JPY.
Selling on rebounds is favored in the short term. Even for daily-chart longs, it is preferable to wait until the short-term selling pressure has run its course.
AUD/JPY
AUD/JPY is trading at 112.58.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Buy.
AUD/USD is also bearish on the hourly chart, while USD/JPY is strongly bearish.
Short-term AUD weakness and yen buying are combining to weigh on AUD/JPY from the short term through the hourly chart.
The daily chart remains bullish, meaning the broader uptrend has not fully broken down.
However, the short-term strategy currently favors selling on rebounds.
NZD/JPY
NZD/JPY is trading at 93.55.
The 5-minute chart is rated Strong Sell, the 15-minute chart is Neutral, the hourly chart is Strong Sell, and the daily chart is Buy.
NZD/USD remains strongly bullish, but the decline in USD/JPY is stronger, leaving NZD/JPY bearish from the short term through the hourly chart.
Yen buying is currently outweighing New Zealand dollar strength.
The daily chart remains bullish, making the pair a potential buy-on-dips candidate. However, caution is warranted until short-term selling subsides and the hourly chart improves.
CAD/JPY
CAD/JPY is trading at 114.69.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Strong Buy.
WTI crude is rated Strong Buy across all timeframes, which should support the Canadian dollar.
However, USD/JPY’s sharp decline means CAD/JPY is also being affected by short-term yen buying.
The daily uptrend remains intact, but selling on rebounds is favored in the short term.
CHF/JPY
CHF/JPY is trading at 196.32.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Neutral.
The Swiss franc is being bought strongly against the dollar, but the yen is being bought even more aggressively, causing CHF/JPY to decline.
It is one of the weaker yen crosses from the short term through the hourly chart.
With the daily chart neutral, the current approach is to prioritize short-term selling on rebounds while waiting for a clearer daily-chart direction.
EUR/GBP
EUR/GBP is trading at 0.8561.
The 5-minute, 15-minute, and hourly charts are rated Strong Buy, while the daily chart is Neutral.
The euro is outperforming the pound from the short term through the hourly chart.
Both EUR/USD and GBP/USD are strongly bullish, but EUR/GBP’s advance highlights the euro’s relative strength among European currencies.
The daily chart remains neutral, so a medium- to long-term euro advantage is not yet confirmed. In the short term, however, EUR/GBP is a buy-on-dips candidate.
EUR/CHF
EUR/CHF is trading at 0.9406.
All timeframes from the 5-minute chart through the daily chart are rated Strong Buy.
It is one of the strongest currency pairs in the current market.
Euro buying and Swiss franc selling are fully aligned, with no meaningful conflict in direction from the short term through the daily chart.
Together with EUR/USD and EUR/GBP, EUR/CHF confirms that euro strength is the central theme of this market.
The basic strategy is to buy on dips.
■ Commodity Markets
Gold
Spot gold is trading at $4,368.78.
All timeframes from the 5-minute chart through the daily chart are rated Strong Buy.
Gold futures are also trading at $4,423.60 and are rated Strong Buy across all timeframes.
Buying is fully aligned from the short term through the daily chart, confirming a very clear gold rally.
USD/JPY weakness, Swiss franc buying, and short-term equity-market corrections are creating a favorable environment for safe-haven demand for gold.
The basic strategy is to buy on dips.
However, gold is also in a sharp advance near high levels, so entries should prioritize pullbacks and confirmation of a reversal higher.
Silver
Silver is trading at 63.3625.
The 5-minute and 15-minute charts are rated Strong Buy, while the hourly and daily charts are Neutral.
Silver futures are also rated Strong Buy in the short term but Neutral on the hourly and daily charts.
Short-term silver buying is strong, but the medium-term and daily direction remains unclear.
The uptrend is less convincing than gold, and there is a risk of momentum fading after a short-term rise.
Silver is a short-term buy-on-dips candidate, but it should be approached more cautiously than gold until the daily chart turns bullish.
WTI Crude Oil
WTI crude is trading at $85.13.
All timeframes from the 5-minute chart through the daily chart are rated Strong Buy.
It is the strongest commodity in the current market.
With prices above $85, the uptrend is fully aligned from the short term through the daily chart.
Higher oil prices support the Canadian dollar, but the effect on CAD/JPY is limited at present because yen buying remains strong.
WTI itself favors buying on dips.
However, after a sustained advance at high levels, waiting for a short-term pullback provides more manageable risk.
Natural Gas
Natural gas is trading at 2.792.
The 5-minute, 15-minute, and hourly charts are rated Strong Buy, while the daily chart is Neutral.
A strong uptrend is in place from the short term through the hourly chart.
The daily chart remains neutral, making the medium- to long-term outlook less clear than WTI. However, short-term energy buying is evident.
Natural gas is a short-term buy-on-dips candidate, though earlier profit-taking should be considered given the neutral daily chart.
BTC/USD
BTC/USD is trading at $64,400.
The 5-minute chart is rated Strong Sell, the 15-minute and hourly charts are Neutral, and the daily chart is Buy.
The daily chart remains bullish, but short-term selling is strong and the market is in a corrective phase.
While gold and oil are rated Strong Buy across all timeframes, BTC lacks the momentum needed to chase prices higher.
It remains a potential daily-chart buy-on-dips candidate, but aggressive buying should be avoided until short-term charts turn bullish and the hourly chart improves.
■ Equity Markets
U.S. Equities
The Dow Jones Industrial Average is trading at 53,343.40.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Neutral.
The short-term-to-hourly correction is clear. The daily chart is neutral, and upside momentum is more limited than in the S&P 500 and Nasdaq 100.
The S&P 500 is trading at 7,691.76.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Strong Buy.
The daily uptrend remains intact, but profit-taking is strong from the short term through the hourly chart.
The Nasdaq 100 is trading at 29,490.96.
The 5-minute chart is rated Sell, the 15-minute and hourly charts are Strong Sell, and the daily chart is Buy.
Technology stocks remain bullish on the daily chart but are in a corrective phase from the short term through the hourly chart.
Some U.S. indices retain daily uptrends, but selling on rebounds is favored in the short term. Even when targeting daily-chart long positions, short-term reversal confirmation is necessary.
European Equities
The DAX is trading at 26,118.88.
The 5-minute chart is Neutral, the 15-minute and hourly charts are Strong Sell, and the daily chart is Buy.
The daily chart remains bullish, but weakness is evident from the short term through the hourly chart.
The FTSE 100 is trading at 10,705.34.
The 5-minute, 15-minute, and hourly charts are rated Strong Sell, while the daily chart is Neutral.
The short-term decline is clear, making it one of the weaker European indices.
The CAC 40 is trading at 8,541.56.
The 5-minute chart is Neutral, the 15-minute chart is Buy, the hourly chart is Strong Sell, and the daily chart is Sell.
Although a temporary rebound is visible on shorter charts, selling is dominant on the hourly and daily timeframes.
Within Europe, the DAX is relatively stronger on the daily chart, while the FTSE 100 and CAC 40 remain weak.
Japanese Equities
The Nikkei average is trading at 65,356.00.
The 5-minute chart is rated Sell, the 15-minute and hourly charts are Strong Sell, and the daily chart is also Sell.
The Nikkei is notably weak among the major equity indices.
Selling signals extend through the daily chart, raising the risk that the market is moving beyond a short-term correction and into a broader downtrend.
The basic strategy is selling on rebounds.
Even if there is a short-term rebound, it is preferable not to rush into buying while the hourly and daily charts remain bearish.
■ Strength Rankings
S Rank
EUR/USD
GBP/USD
EUR/CHF
Gold
Gold futures
WTI crude oil
A Rank
NZD/USD
Short-term EUR/GBP
Short-term natural gas
S&P 500 daily chart
Nasdaq 100 daily chart
DAX daily chart
B Rank
EUR/JPY daily chart
GBP/JPY daily chart
AUD/JPY daily chart
NZD/JPY daily chart
CAD/JPY daily chart
BTC daily chart
■ Weakness Rankings
S Rank
USD/JPY
Short-term GBP/JPY
Short-term AUD/JPY
Short-term CAD/JPY
Short-term CHF/JPY
Nikkei average
A Rank
Short-term USD/CHF
Short-term NZD/JPY
Short-term AUD/NZD
Short-term Dow Jones
Short-term S&P 500
Short-term Nasdaq 100
Short-term FTSE 100
B Rank
Short-term AUD/USD
Short-term EUR/JPY
Short-term BTC
Short-term DAX
CAC 40 hourly chart
■ Market Themes
The central themes are euro strength, pound strength, USD/JPY weakness, higher gold and oil prices, and short-term corrections in equity indices.
EUR/USD, GBP/USD, and EUR/CHF are rated Strong Buy across all timeframes. The market is showing not only dollar weakness but also notable underlying euro strength.
USD/JPY is rated Strong Sell across all timeframes. Its decline into the low-159 range is driving a broader correction across yen crosses through strong short-term yen buying.
Many yen crosses retain daily buy signals, while short-term and hourly charts are bearish. This can be viewed as a corrective phase against the daily-chart uptrend.
Gold and gold futures are rated Strong Buy across all timeframes. WTI crude shows the same setup, highlighting strength in both precious metals and energy.
In equities, the S&P 500, Nasdaq 100, and DAX remain bullish on daily charts but are bearish from the short term through the hourly charts. The Nikkei is rated Sell even on the daily chart and requires greater caution than other markets.
■ Trading Strategy
Buy-Biased
EUR/USD
GBP/USD
EUR/CHF
NZD/USD
Gold
Gold futures
WTI crude oil
Buy-on-Dips Candidates
EUR/JPY daily chart
GBP/JPY daily chart
AUD/JPY daily chart
NZD/JPY daily chart
CAD/JPY daily chart
S&P 500 daily chart
Nasdaq 100 daily chart
DAX daily chart
BTC daily chart
Sell-on-Rebounds Candidates
USD/JPY
Short-term USD/CHF
Short-term GBP/JPY
Short-term AUD/JPY
Short-term NZD/JPY
Short-term CAD/JPY
Short-term CHF/JPY
Nikkei average
Short-term Dow Jones
Short-term S&P 500
Short-term Nasdaq 100
Short-term FTSE 100
Markets Requiring Caution
USD/JPY is rated Strong Sell across all timeframes. While its decline in the 159 range continues, an oversold market may trigger sharp short-term buybacks. The basic strategy is to sell rebounds.
EUR/USD, GBP/USD, and EUR/CHF are rated Strong Buy across all timeframes. These are very strong trends, but it is preferable to enter after a short-term correction and confirmation of renewed upside rather than chasing prices higher.
Yen crosses show a conflict between bullish daily charts and bearish short-term charts. Buying dips based on the daily chart alone may be premature, so improvement in short-term and hourly charts is needed.
Gold and WTI are rated Strong Buy across all timeframes. The broader trend is bullish, but both have already risen substantially, making it important to wait for short-term pullbacks.
The Nikkei is rated Sell even on the daily chart. Unlike other major indices, it does not show a confirmed daily uptrend, so countertrend buying should be approached cautiously.
■ Summary
The current market is centered on euro strength, pound strength, USD/JPY weakness, higher gold and oil prices, and short-term equity-market corrections.
The strongest markets are EUR/USD, GBP/USD, EUR/CHF, gold, gold futures, and WTI crude oil.
USD/JPY, short-term GBP/JPY, short-term AUD/JPY, short-term CAD/JPY, short-term CHF/JPY, and the Nikkei average are weak and favor selling on rebounds.
Overall, the market favors buying dips in the strong euro, pound, New Zealand dollar, gold, and oil, while considering selling rebounds in USD/JPY, short-term yen crosses, the Nikkei, and short-term U.S. and European equities.
