Technical Analysis — October 27, 2026

Overview

Today’s key themes are the improvement in the Australian and New Zealand dollars, weakness in the euro on higher timeframes, and strong buying across all timeframes in the DAX and copper.

USD/CHF and AUD/USD are strongly bullish across all timeframes. In contrast, USD/CAD is strongly bearish across all timeframes, showing that dollar strength varies depending on the counter-currency. NZD/USD has also improved to strongly bullish from the short-term charts through the hourly chart.

Among the yen crosses, AUD/JPY is strongly bullish across all timeframes, while NZD/JPY is bullish across all timeframes. CHF/JPY is strongly bearish across all timeframes. USD/JPY is bearish in the short term, bullish on the hourly chart and bearish on the daily chart, leaving the overall direction of the yen unclear.

Copper has improved to strongly bullish across all timeframes. Gold and silver are showing short-term rebounds, but their daily charts remain strongly bearish. WTI crude is bearish from the short-term charts through the hourly chart, against a strongly bullish daily outlook.

The DAX is strongly bullish across all timeframes. Buying in the CAC 40 has also extended through the hourly chart. By contrast, the FTSE 100 has lost some of its previous strength, and the U.S. indices and Nikkei still show disagreement between their daily and short-term readings.

Main Changes Since the Previous Report

USD/CHF’s bearish 5-minute reading and neutral daily reading have improved, bringing all timeframes into alignment to the upside.

The short-term correction in AUD/USD has ended, leaving the pair strongly bullish across all timeframes. NZD/USD has also shifted from strong selling to strong buying on the short-term charts through the hourly chart, while its daily outlook has improved from neutral to bullish.

USD/JPY’s strongly bullish 5- and 15-minute readings have turned bearish. The hourly chart remains strongly bullish, but the short-term upward momentum has weakened.

AUD/JPY’s neutral 5-minute reading and bullish daily reading have improved to strongly bullish. NZD/JPY is also strongly bullish from the short-term charts through the hourly chart, with a bullish daily reading.

Buying in CHF/JPY has disappeared from the short-term charts through the hourly chart, turning the pair strongly bearish across all timeframes. GBP/JPY has also shifted to strongly bearish from the short-term charts through the hourly chart.

AUD/NZD’s strongly bullish 15-minute and hourly readings have disappeared, leaving all timeframes neutral. The previous signal of Australian dollar strength has weakened.

Copper and the DAX have improved through the daily chart, becoming strongly bullish across all timeframes.

Gold and silver have improved on the short-term charts, but their daily charts remain strongly bearish. Natural gas’s strongly bullish hourly reading has weakened to neutral.

The S&P 500, Nasdaq 100 and Nikkei are no longer strongly bearish across all timeframes. Their daily charts, however, remain strongly bearish.

FX Markets

EUR/USD — 1.1148

The 5-minute chart is bullish; the 15-minute, hourly and daily charts are strongly bearish.

There is a short-term rebound, but the 15-minute chart and above remain bearish. On the hourly and daily charts, moving averages and indicators are also aligned to the downside.

Selling rallies is favored. Watch whether the 5-minute buying fades and the pair returns to the bearish direction on the 15-minute chart.

GBP/USD — 1.3318

The 5-minute chart is neutral, the 15-minute and hourly charts are strongly bearish, and the daily chart is neutral.

Weakness on the 15-minute and hourly charts persists. On the daily chart, strongly bearish moving averages conflict with bullish indicators, so a bullish reversal has not been confirmed.

Based on the hourly chart, selling rallies is favored. If a rebound occurs, watch whether selling persists on the 15-minute and hourly charts.

USD/JPY — 157.65

The 5-minute chart is strongly bearish, the 15-minute chart is bearish, the hourly chart is strongly bullish, and the daily chart is bearish.

The previous alignment of buying from the short-term charts through the hourly chart has broken down. On the hourly chart, moving averages and indicators are bullish, while the short-term and daily charts are bearish.

The key question is whether the hourly buying persists and the short-term charts turn bullish again. Even if considering a daily-trend short, wait for the hourly buying to weaken.

USD/CHF — 0.8283

The pair is strongly bullish across all timeframes.

The previous bearish 5-minute reading and neutral daily outlook have cleared. Moving averages and indicators are aligned to the upside across all timeframes.

This is one of the clearest dip-buying candidates in today’s FX market. Watch whether buying persists on the 15-minute and hourly charts after a short-term correction.

AUD/USD — 0.7034

The pair is strongly bullish across all timeframes.

The previous short-term correction has ended, bringing the pair in line with its bullish daily trend. Moving averages and indicators are bullish throughout, with clear strength on the hourly chart as well.

Buying dips is favored. If a short-term pullback occurs, watch whether strong buying persists on the 15-minute and hourly charts.

NZD/USD — 0.5700

The 5-minute, 15-minute and hourly charts are strongly bullish; the daily chart is bullish.

The previous strong selling from the short-term charts through the hourly chart has cleared. However, the daily moving averages remain neutral, so the daily signals are less aligned than those for AUD/USD.

This is a dip-buying candidate. Watch whether the daily moving averages improve to bullish while the hourly chart retains its strong buying signal.

USD/CAD — 1.4014

The pair is strongly bearish across all timeframes.

The neutral readings from the short-term charts through the hourly chart have turned bearish. Moving averages and indicators are also aligned to the downside across all timeframes.

Selling rallies is favored. Its outlook is the opposite of USD/CHF, so assess the alignment of each pair rather than treating the dollar as having a single overall direction.

Yen Crosses and Relative Currency Strength

EUR/JPY — 175.73

The 5-minute chart is neutral; the 15-minute, hourly and daily charts are strongly bearish.

Buying on the 15-minute and hourly charts has disappeared since the previous report, bringing the pair back in line with the daily downtrend. On the 5-minute chart, bearish moving averages conflict with bullish indicators.

Selling rallies is favored. Watch whether the short-term rebound fades and the 15-minute chart returns to the downside.

GBP/JPY — 209.93

The 5-minute, 15-minute and hourly charts are strongly bearish; the daily chart is neutral.

Strong buying from the short-term charts through the hourly chart has turned bearish. On the daily chart, strongly bearish moving averages conflict with bullish indicators.

Selling rallies is favored in the short term. The daily chart is not aligned to the downside as clearly as those of EUR/JPY and CHF/JPY.

CHF/JPY — 190.34

The pair is strongly bearish across all timeframes.

The previous short-term rebound has ended, and the pair is aligned with the daily downtrend. Moving averages and indicators are bearish across all timeframes.

Among today’s yen crosses, this is a clear rally-selling candidate. If a rebound occurs, watch whether the hourly selling persists.

AUD/JPY — 110.88

The pair is strongly bullish across all timeframes.

The previous neutral 5-minute reading has cleared, and the daily outlook has improved from bullish to strongly bullish. Moving averages and indicators are aligned to the upside across all timeframes.

This is the most clearly aligned dip-buying candidate among today’s yen crosses. Focus on whether strong buying continues on the 15-minute and hourly charts.

NZD/JPY — 89.86

The 5-minute, 15-minute and hourly charts are strongly bullish; the daily chart is bullish.

Buying has become clearer from the short-term charts through the hourly chart, and the daily outlook has improved from neutral. However, the daily moving averages remain neutral.

This is a dip-buying candidate, although its daily alignment is weaker than that of AUD/JPY. Watch whether the hourly strength spreads to the daily moving averages.

CAD/JPY — 112.50

The 5-minute and 15-minute charts are neutral; the hourly and daily charts are strongly bullish.

The daily reading has improved from bullish to strongly bullish. However, the 15-minute chart has weakened from strongly bullish to neutral, indicating less short-term follow-through.

This is a higher-timeframe dip-buying candidate. Wait for the 15-minute chart to turn bullish again and align with the hourly strength.

EUR/GBP — 0.8371

The 5-minute chart is strongly bullish, the 15-minute chart is bearish, and the hourly and daily charts are strongly bearish.

The hourly chart has shifted from strongly bullish to strongly bearish. The hourly and daily readings indicate sterling’s relative strength against the euro.

Selling rallies is favored. Watch whether the 5-minute buying fades and the pair returns to the bearish direction on the 15-minute chart.

AUD/NZD — 1.2339

All timeframes are neutral.

The strongly bullish 15-minute and hourly readings from the previous report have disappeared. On the hourly and daily charts, bullish moving averages conflict with strongly bearish indicators.

Both the Australian and New Zealand dollars have improved against the U.S. dollar and yen, but the direction between them is unclear. Wait for buying or selling signals to align again.

EUR/CHF — 0.9233

The 5-minute chart is bullish, the 15-minute chart is bearish, and the hourly and daily charts are strongly bearish.

The hourly chart has shifted from strongly bullish to strongly bearish, bringing it into line with the daily trend. A short-term rebound remains, but moving averages and indicators are strongly bearish on the hourly and daily charts.

Selling rallies is favored. Watch whether the 5-minute buying fades and the pair aligns with the 15-minute and higher-timeframe selling.

GBP/CHF — 1.1030

The 5-minute chart is bearish, the 15-minute and hourly charts are strongly bearish, and the daily chart is strongly bullish.

Short-term and hourly charts remain in correction against the bullish daily outlook. On the 15-minute chart, both moving averages and indicators are strongly bearish.

For a daily-trend dip-buying setup, wait for selling on the 15-minute and hourly charts to clear.

Commodities

Gold — 4008.11

The 5-minute and 15-minute charts are strongly bullish, the hourly chart is neutral, and the daily chart is strongly bearish.

The short-term rebound has strengthened since the previous report. However, the hourly moving averages are neutral and the indicators are bearish, so buying has not yet spread to the hourly chart.

Watch whether the short-term rebound continues. Consider selling in line with the daily trend only after short-term buying weakens.

Gold Futures — 4020.65

The 5-minute and 15-minute charts are strongly bullish, the hourly chart is bearish, and the daily chart is strongly bearish.

Short-term signals have improved, but the hourly chart has weakened from neutral to bearish. On the hourly chart, both moving averages and indicators are bearish.

Based on the higher timeframes, selling rallies is favored. Watch whether short-term buying fades and the 15-minute chart turns bearish again.

Silver — 53.3640

The 5-minute and 15-minute charts are strongly bullish, the hourly chart is bearish, and the daily chart is strongly bearish.

The pair has shifted from being bearish across all timeframes to a short-term rebound. However, moving averages and indicators remain bearish on the hourly and daily charts.

Short-term buying conflicts with the higher-timeframe downtrend. If considering a rally-selling setup, wait for buying on the 15-minute chart to weaken.

Silver Futures — 53.415

The 5-minute chart is strongly bullish, the 15-minute chart is bullish, and the hourly and daily charts are strongly bearish.

A short-term rebound is underway, but the hourly weakness is clearer than in spot silver. On the daily chart, moving averages and indicators are aligned strongly to the downside.

The higher-timeframe bias favors selling rallies. Watch whether the short-term rebound extends to the hourly chart or gives way to renewed selling.

WTI Crude — 101.21

The 5-minute and 15-minute charts are strongly bearish, the hourly chart is bearish, and the daily chart is strongly bullish.

The overall readings are unchanged from the previous report. Moving averages and indicators are bearish from the short-term charts through the hourly chart, while both are strongly bullish on the daily chart.

This is a potential daily-trend dip-buying setup, but there is no confirmation yet that the correction has ended. Wait for the 15-minute and hourly charts to turn bullish again.

Natural Gas — 3.008

The 5-minute and 15-minute charts are strongly bearish, the hourly chart is neutral, and the daily chart is strongly bearish.

The hourly chart has weakened from strongly bullish to neutral, and the 15-minute chart has turned bearish. The daily moving averages and indicators are strongly bearish.

Watch whether the hourly chart turns bearish as well to confirm a rally-selling setup. The rebound signal is weaker than it was previously.

Copper — 6.6080

The pair is strongly bullish across all timeframes.

The previous bearish 5-minute reading and bearish daily reading have cleared. Moving averages and indicators are aligned to the upside across all timeframes.

Copper is the clearest dip-buying candidate in today’s commodity market. Watch whether buying persists on the 15-minute and hourly charts after a short-term correction.

U.S. Wheat — 616.00

The 5-minute and 15-minute charts are strongly bullish, the hourly chart is neutral, and the daily chart is strongly bearish.

Short-term signals have improved, but the hourly chart has weakened from bullish to neutral. Hourly moving averages are bearish, and both moving averages and indicators are strongly bearish on the daily chart.

Watch whether short-term buying extends to the hourly chart. For a daily-trend rally-selling setup, wait for the short-term rebound to fade.

BTC/USD — 79990.0

The 5-minute chart is strongly bullish, the 15-minute chart is bullish, the hourly chart is neutral, and the daily chart is strongly bearish.

Buying on the 15-minute and hourly charts has weakened since the previous report. The daily moving averages and indicators remain bearish.

The rebound has not broadened much. For a long, wait for the hourly chart to improve. For a trade in line with the daily downtrend, watch for short-term buying to fade.

Equity Indices

Dow — 52361.58

The 5-minute chart is strongly bullish, the 15-minute chart is bullish, the hourly chart is neutral, and the daily chart is strongly bullish.

Strong selling from the short-term charts through the hourly chart has cleared. However, on the hourly chart, bullish moving averages conflict with bearish indicators.

This is a potential daily-trend dip-buying setup. Watch whether the hourly chart turns bullish and the short-term charts realign with the daily uptrend.

S&P 500 — 7676.77

The 5-minute and 15-minute charts are bearish, the hourly chart is neutral, and the daily chart is strongly bearish.

The index is no longer strongly bearish across all timeframes, but the short-term and daily charts remain pointed lower. On the hourly chart, bearish moving averages conflict with strongly bullish indicators.

Selling rallies is favored. Watch whether the bullish hourly indicators weaken and the chart realigns to the downside.

Nasdaq 100 — 29273.41

The 5-minute and 15-minute charts are strongly bearish, the hourly chart is neutral, and the daily chart is strongly bearish.

The hourly chart has improved from strongly bearish, but its moving averages remain bearish, so a bullish reversal is not confirmed.

Based on the short-term and daily charts, selling rallies is favored. Watch whether the hourly rebound continues or the chart turns bearish again.

DAX — 25475.13

The index is strongly bullish across all timeframes.

The previously neutral 5-minute and daily readings have cleared. Moving averages and indicators are all aligned to the upside.

The DAX is the clearest dip-buying candidate among today’s equity indices. Focus on whether strong buying persists on the 15-minute and hourly charts.

FTSE 100 — 10691.14

The 5-minute chart is bullish, the 15-minute chart is bearish, the hourly chart is strongly bearish, and the daily chart is neutral.

The previous bullish alignment from the 15-minute chart through the daily chart has broken down. On the hourly chart, moving averages and indicators are both strongly bearish.

Despite a possible short-term rebound, hourly weakness remains. Watch whether the 5-minute buying fades and the 15-minute chart turns lower again.

CAC 40 — 7874.52

The 5-minute, 15-minute and hourly charts are strongly bullish; the daily chart is neutral.

Short-term buying has strengthened since the previous report, and the daily outlook has improved from bearish to neutral. However, on the daily chart, bearish moving averages conflict with bullish indicators.

This is a short-term dip-buying candidate. Unlike the DAX, the CAC 40 is not yet bullish on the daily chart.

Nikkei 225 — 63294.00

The 5-minute chart is neutral, the 15-minute chart is strongly bullish, the hourly chart is neutral, and the daily chart is strongly bearish.

The index is no longer strongly bearish across all timeframes. However, on the hourly chart, bearish moving averages conflict with strongly bullish indicators, and the daily weakness persists.

Watch whether the rebound continues. The next point to monitor is whether the 15-minute buying spreads to the hourly chart.

Strength Rankings

Strongly Bullish Overall Across All Timeframes

• USD/CHF
• AUD/USD
• AUD/JPY
• Copper
• DAX

Moving averages and indicators are bullish across all timeframes for each. These are the clearest dip-buying candidates in today’s set.

Bullish Across All Timeframes

• NZD/USD
• NZD/JPY

The short-term charts through the hourly chart are strongly bullish, and the daily chart is bullish. However, daily moving averages remain neutral, leaving room for further improvement in the underlying daily signals.

Retaining Bullish Higher-Timeframe Readings

• CAD/JPY
• Dow
• GBP/CHF
• WTI crude

Neutral or bearish signals remain on the short-term or hourly charts. Wait for buying to realign before taking a long position.

Clear Buying from the Short-Term Charts Through the Hourly Chart

• CAC 40

The daily chart is neutral, so distinguish it from the DAX, which is strongly bullish across all timeframes.

Weakness Rankings

Strongly Bearish Overall Across All Timeframes

• USD/CAD
• CHF/JPY

Moving averages and indicators are also aligned to the downside across all timeframes.

Strongly Bearish from the 15-Minute Chart Through the Daily Chart

• EUR/USD
• EUR/JPY

The 5-minute chart may show a rebound or neutral reading, but the downside is clear from the 15-minute chart upward.

Strongly Bearish on the Hourly and Daily Charts

• EUR/GBP
• EUR/CHF
• Silver futures

Watch whether short-term rebounds extend to the higher timeframes or give way to renewed selling.

Instruments with Daily Weakness Still in Place

• Spot gold and silver
• Gold futures
• Natural gas
• U.S. wheat
• BTC
• S&P 500
• Nasdaq 100
• Nikkei 225

Trading Strategy

Prioritize Dip-Buying Setups

USD/CHF, AUD/USD, AUD/JPY, copper and the DAX are strongly bullish across all timeframes.

Wait for short-term pullbacks, then check whether the 15-minute and hourly charts remain bullish and turn higher again.

NZD/USD and NZD/JPY are also bullish across all timeframes. However, their daily moving averages remain neutral, so their higher-timeframe alignment is less complete than that of the pairs listed above.

Short-Term Buying Candidate

The CAC 40 is strongly bullish from the 5-minute chart through the hourly chart.

The daily chart remains neutral, so treat continued short-term buying separately from a confirmed daily uptrend.

Wait for Buying Signals to Improve

CAD/JPY is strongly bullish on the hourly and daily charts, but the short-term charts are neutral. Watch whether the 15-minute chart turns bullish again.

The Dow is strongly bullish on the daily chart, but the hourly chart is neutral. Improvement in the hourly indicators will be important.

GBP/CHF and WTI crude have strongly bullish daily readings, while the short-term charts through the hourly chart are bearish. Wait for confirmation that their corrections have ended.

Rally-Selling Candidates

USD/CAD and CHF/JPY are bearish across all timeframes.

EUR/USD and EUR/JPY are strongly bearish from the 15-minute chart upward. Watch whether short-term rebounds fade and the higher-timeframe selling resumes.

For EUR/GBP, EUR/CHF and gold and silver, use the higher-timeframe bearish trend as a guide and wait for short-term buying to weaken.

Wait for the Timeframes to Align

USD/JPY is bearish on the short-term and daily charts but strongly bullish on the hourly chart. Watch whether hourly buying spreads back to the short-term charts or turns into selling in line with the daily trend.

AUD/NZD is neutral across all timeframes. Do not automatically carry forward the previous Australian dollar bias; wait for a new directional alignment.

The hourly charts for the Nikkei and BTC are neutral, while their daily charts are strongly bearish. Do not interpret a short-term rebound as a reversal; wait for improvement on the hourly chart.

Key Points to Watch

Both the Australian and New Zealand dollars have improved today. AUD/NZD’s neutral reading across all timeframes also shows that the Australian dollar’s relative advantage is less clear than it was in the previous report.

Among the yen crosses, buying in AUD/JPY and NZD/JPY contrasts with selling in CHF/JPY and EUR/JPY. Rather than treating all yen crosses alike, focus on the strength of each counter-currency.

European equities are diverging: the DAX is strongly bullish across all timeframes, the CAC 40 is bullish through the hourly chart, and the FTSE 100 is strongly bearish on the hourly chart. The rebound is not equally broad across the region. Reassess priorities using current signals rather than carrying forward the FTSE 100’s previous strength.

Gold, silver, BTC and the Nikkei are showing short-term rebounds, but their daily charts remain strongly bearish. Distinguish a rebound extending to the hourly chart from a genuine improvement in the daily trend.