Technical Analysis – May 28, 2026
Market Summary
The current market environment is:
Strong U.S. dollar
+
Commodities under pressure
+
Equities continuing higher
+
NZD outperforming against the trend
In one sentence:
“A dollar-led market where capital is concentrating in select assets.”
Compared with the previous session, divergence between currencies has become much clearer.
1. U.S. Dollar
The dollar remains strong overall.
USD/JPY – 159.39
- Short-term: Sell
- Daily chart: Strong Buy
→ Near-term pullback
But the broader trend remains upward.
Holding in the 159 range remains a sign of strength.
USD/CHF
Strong Buy across all timeframes
One of the clearest expressions of dollar strength.
EUR/USD
Daily chart remains Strong Sell
Rebounds continue to struggle.
GBP/USD
Broad selling pressure
One of the weakest majors.
2. Oceania
This is the most notable part of the market today.
AUD/USD
Still weak on the medium and longer-term charts.
NZD/USD
Strong Buy across all timeframes
Very unusual.
AUD/NZD
Broad selling
→ NZD is currently the strongest currency
3. Yen Crosses
Clear divergence here as well.
EUR/JPY
- Short-term weak
- Daily chart bullish
GBP/JPY
Soft
AUD/JPY
Weak
NZD/JPY
Strong Buy
NZD leadership remains very clear.
CAD/JPY
Weak across the board.
4. Gold & Silver
Short-term bounce underway,
but medium and long-term trends remain weak.
Gold
- Short-term: Buy
- Daily: Strong Sell
Silver
Similar structure
→ Looks more like a technical rebound than a trend reversal.
5. Energy
WTI Crude
Strong Sell across all timeframes
Trading near $90
Clearly weak.
Natural Gas
Short-term selling
Direction remains mixed.
6. BTC
Short-term rebound
But:
- Hourly: Strong Sell
- Daily: Strong Sell
→ Rally still looks vulnerable.
7. Equities
Still strong.
U.S. Stocks
Dow Jones
Daily chart strong
S&P 500
Very strong
NASDAQ
Very strong
Europe is softer short-term,
but daily charts remain constructive.
Nikkei
Very strong
Trading around 64,654
Relative Strength Ranking
S Rank
- NZD/USD
- NZD/JPY
- USD/CHF
- NASDAQ
- S&P 500
- Nikkei 225
A Rank
- USD/JPY (daily trend)
- Gold (short-term rebound)
Weakest Markets
- GBP/USD
- WTI Crude
- CAD/JPY
- AUD/NZD
- BTC (medium-term)
Final View
The key structure now is:
Dollar strength continues
But:
NZD is outperforming against the trend
And:
Equities remain strong
While:
Commodities stay weak
Organized by trade bias:
Buy Bias
- NZD/USD
- NZD/JPY
- USD/CHF
- NASDAQ
- S&P 500
Sell Bias
- GBP/USD
- WTI Crude
- CAD/JPY
- BTC on rallies
Key takeaway
The most important development today is:
“The dollar remains strong — but NZD is rising with unusual strength.”
That divergence stands out the most in today’s market.
