Technical Analysis — 30 October 2026

Overview

Today’s main themes are the bearish turn in USD/JPY, broad weakness in gold, silver and BTC, and a loss of alignment in the bullish signals across equity indices.

USD/JPY has shifted from strong buying across all timeframes to strong selling across all timeframes. USD/CHF is also strongly bearish across all timeframes. In contrast, GBP/USD is strongly bullish from the 15-minute chart through the daily chart, showing clear sterling strength against the dollar.

Among the yen crosses, EUR/JPY, AUD/JPY and NZD/JPY are strongly bearish across all timeframes. However, the daily indicators for AUD/JPY are strongly bullish, so its internal signals remain in conflict. GBP/JPY and CAD/JPY are also weak in the short term, but retain bullish daily signals.

In commodities, gold, silver, natural gas and wheat are strongly bearish across all timeframes. BTC has also lost its short-term neutral signals and turned bearish across the board. Oil remains bullish from the 15-minute chart through the daily chart, setting it apart from the other commodities.

The previous alignment of buying signals across equity indices has weakened. The hourly and daily charts for the Nasdaq 100 and Nikkei are strongly bearish. The DAX, UK 100 and CAC 40 retain bullish daily signals, but are correcting in the short term.

Main Changes Since the Previous Report

USD/JPY has turned from strong buying across all timeframes to strong selling across all timeframes. Both moving averages and indicators are bearish throughout.

USD/CHF has lost its bullish hourly and daily signals and is now strongly bearish across all timeframes.

GBP/USD’s neutral hourly and daily signals have improved to strong buying. In contrast, GBP/CHF has lost its strong buying across all timeframes, leaving its short-term through hourly direction less clear.

CAD/JPY has turned strongly bearish from the short-term through hourly charts. Its daily signal remains bullish, but conditions differ from the previous report’s strong buying across all timeframes.

EUR/JPY has lost its short-term and hourly buying signals and is now strongly bearish across all timeframes. AUD/JPY’s overall daily signal has also weakened from strong buying to strong selling.

Short-term rebounds or neutral signals in gold, silver and BTC have disappeared, leaving all timeframes strongly bearish.

Natural gas has lost its strongly bullish hourly signal and neutral daily signal, and is now strongly bearish across all timeframes. Copper’s daily signal has also weakened from neutral to strongly bearish.

The S&P 500’s hourly and daily signals have shifted from strong buying to neutral. The Nasdaq 100 and Nikkei are strongly bearish on both the hourly and daily charts.

The DAX retains strong buying on the daily chart, but has weakened to strong selling on the short-term charts and neutral on the hourly chart.

FX Market

EUR/USD — 1.1195

The five-minute chart is strongly bearish; the 15-minute chart is bearish; the hourly chart is strongly bullish; the daily chart is bearish.

The hourly chart has improved since the previous report, but short-term buying has faded. The hourly moving averages and indicators are bullish, while both are bearish on the daily chart.

The hourly rebound conflicts with the daily downtrend. Watch whether the short-term charts return to the hourly buying trend or the hourly chart turns bearish in line with the daily trend.

GBP/USD — 1.3427

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

The neutral signals on the hourly and daily charts have disappeared, making the higher-timeframe buying signals clearer. The moving averages and indicators are aligned to the upside from the 15-minute chart through the daily chart.

The bias is toward buying dips. Watch for bearish indicators on the five-minute chart to ease and price to resume in line with the higher-timeframe trend.

USD/JPY — 157.14

Strongly bearish across all timeframes.

The pair has turned from strong buying across all timeframes to selling. Both moving averages and indicators are bearish throughout, making the downward alignment clear.

The bias is toward selling rallies. If the pair rebounds, watch whether the 15-minute and hourly selling signals remain in place.

USD/CHF — 0.8212

Strongly bearish across all timeframes.

The bullish signals on the hourly and daily charts have disappeared. Both moving averages and indicators are bearish across all timeframes.

Alongside USD/JPY, USD/CHF is one of the clearest sell-on-rallies candidates among the major currencies today.

AUD/USD — 0.7027

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

Weakness from the short-term through hourly charts continues. The daily signal has eased from strong buying to buying, and its moving averages are now neutral.

For a buy in line with the daily trend, wait for the 15-minute and hourly charts to improve. Daily buying alone does not confirm that the correction has ended.

NZD/USD — 0.5640

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

The pair has improved from strong selling across all timeframes, with selling signals easing on the 15-minute and hourly charts. However, on the hourly chart, the moving averages are bearish while the indicators are strongly bullish.

For a daily-trend sell-on-rallies setup, watch whether the hourly rebound signal fades and the chart turns bearish.

USD/CAD — 1.3963

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

There is a short-term rebound, but the hourly signal has weakened from bearish to strongly bearish. The moving averages and indicators on the hourly and daily charts are aligned to the downside.

The pair remains a potential sell-on-rallies candidate. Watch whether buying on the five-minute chart fades and the 15-minute chart turns bearish again.

Crosses and Relative Currency Strength

EUR/JPY — 175.87

Strongly bearish across all timeframes.

Buying from the short-term through hourly charts has disappeared, aligning the pair with the daily downtrend. Both moving averages and indicators are bearish across all timeframes.

The bias is toward selling rallies. Even if the pair rebounds, watch whether selling on the 15-minute and hourly charts eases.

GBP/JPY — 210.93

The five-minute chart is strongly bearish; the 15-minute chart is bearish; the hourly chart is neutral; the daily chart is strongly bullish.

Strong buying from the short-term through hourly charts has weakened since the previous report. Meanwhile, the daily signal has improved from neutral to strong buying.

The daily trend favours buying dips, but there is no confirmation that the short-term correction has ended. Wait for the 15-minute and hourly charts to turn bullish again.

CHF/JPY — 191.38

The five-minute chart is neutral; the 15-minute chart is strongly bearish; the hourly chart is neutral; the daily chart is bullish.

Strong buying from the short-term through hourly charts has disappeared. The daily signal has improved from strong selling to buying, although the daily moving averages are neutral.

Wait for the signals to realign. Watch whether the strong bearish hourly indicators ease.

AUD/JPY — 110.42

Strongly bearish overall across all timeframes.

The daily overall signal has shifted from strong buying to bearish. However, the daily moving averages are strongly bearish while the indicators are strongly bullish.

The short-term through hourly bias favours selling rallies. Note that the daily internal signals are not fully aligned to the downside.

NZD/JPY — 88.64

Strongly bearish across all timeframes.

The five-minute chart has shifted from neutral to bearish, aligning with the higher-timeframe selling signals. Both the moving averages and indicators are strongly bearish throughout.

NZD/JPY stands out as one of the clearest sell-on-rallies candidates among the yen crosses today.

CAD/JPY — 112.55

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

The pair has shifted from strong buying across all timeframes to selling on the short-term and hourly charts. On the daily chart, the moving averages are neutral and the indicators are strongly bullish.

For a buy in line with the daily trend, wait for selling on the 15-minute and hourly charts to ease.

EUR/GBP — 0.8338

Strongly bearish across all timeframes.

Both the moving averages and indicators remain bearish across all timeframes, as in the previous report. Sterling continues to show relative strength against the euro.

The bias is toward selling rallies. Watch whether weakness on the 15-minute and hourly charts persists during any rebound.

AUD/NZD — 1.2458

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

The 15-minute and hourly charts have weakened from neutral to bearish. The daily moving averages and indicators remain strongly bullish.

For a buy in line with the daily trend, wait for the correction on the short-term through hourly charts to end.

EUR/CHF — 0.9191

Strongly bearish across all timeframes.

The previous strong buying on the short-term charts and neutral hourly signal have disappeared, aligning the pair with the daily downtrend. Both moving averages and indicators are bearish across all timeframes.

The bias is toward selling rallies. Alongside EUR/GBP, this reflects clear relative weakness in the euro.

GBP/CHF — 1.1023

The five-minute chart is neutral; the 15-minute chart is bearish; the hourly chart is neutral; the daily chart is bullish.

The previous strong buying across all timeframes has broken down. On the hourly chart, the moving averages are bearish while the indicators are strongly bullish.

For a buy in line with the daily trend, wait for the 15-minute and hourly charts to turn bullish.

Commodities

Gold — 3964.94

Strongly bearish across all timeframes.

The five-minute buying and 15-minute neutral signal seen previously have disappeared, aligning the short-term charts with the hourly and daily downtrend. Both moving averages and indicators are strongly bearish throughout.

The bias is toward selling rallies. Even if a short-term rebound occurs, the bearish signal remains clear until the 15-minute and hourly charts improve.

Gold Futures — 3971.40

Strongly bearish across all timeframes.

As with spot gold, the moving averages and indicators are strongly bearish across all timeframes. The previous short-term rebound has faded.

The direction is clear, making gold futures a potential sell-on-rallies candidate.

Silver — 50.1405

Strongly bearish across all timeframes.

The five-minute buying signal has disappeared. Both moving averages and indicators are strongly bearish, aligning the short-term through daily charts to the downside.

The bias is toward selling rallies. Before considering a bullish turn, watch for selling on the 15-minute and hourly charts to ease.

Silver Futures — 50.158

Strongly bearish across all timeframes.

The short-term rebound has faded, aligning the pair with the hourly and daily downtrend. Both moving averages and indicators are bearish across all timeframes.

Spot and futures signals are aligned to the downside. Watch whether the bearish signals persist during any rebound.

WTI Crude Oil — 104.03

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

The 15-minute and hourly charts have improved from neutral. The moving averages and indicators are bullish from the 15-minute chart through the daily chart.

The bias is toward buying dips. Watch for selling on the five-minute chart to stop and price to resume in line with the higher-timeframe trend.

Natural Gas — 2.895

Strongly bearish across all timeframes.

The strongly bullish hourly signal and neutral daily signal from the previous report have disappeared. Both moving averages and indicators are bearish across all timeframes.

The bias is toward selling rallies. Natural gas is moving in the opposite direction to oil, so avoid treating energy commodities as a single market.

Copper — 6.5098

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

The daily signal has weakened from neutral to strongly bearish. Both moving averages and indicators are bearish across all timeframes.

Copper is a potential sell-on-rallies candidate. If the price rebounds, watch whether the hourly and daily selling signals hold.

US Wheat — 602.60

Strongly bearish across all timeframes.

Short-term selling has strengthened since the previous report, with both moving averages and indicators strongly bearish across all timeframes.

The bias is toward selling rallies, with the direction aligned from the short-term through daily charts.

BTC/USD — 77477.0

Strongly bearish across all timeframes.

The neutral signals on the five-minute and 15-minute charts have disappeared, aligning them with the hourly and daily downtrend. Both moving averages and indicators are bearish across all timeframes.

BTC is a potential sell-on-rallies candidate. Do not treat a short-term rebound alone as a reversal; first watch for selling on the 15-minute and hourly charts to ease.

Equity Indices

Dow Jones — 52342.56

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

The short-term charts have improved since the previous report, but the hourly signal has weakened from bullish to neutral. On the hourly chart, the moving averages are bullish while the indicators are bearish.

For a buy in line with the daily trend, watch whether the hourly chart turns bullish again.

S&P 500 — 7720.39

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

The previous strong buying across all timeframes has weakened on the higher-timeframe charts. On the hourly chart, the moving averages are bullish while the indicators are strongly bearish. On the daily chart, the moving averages are strongly bullish while the indicators are bearish.

This is a short-term rebound. Watch whether strength on the 15-minute chart extends to the hourly chart.

Nasdaq 100 — 29402.51

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

The previous strong buying through the hourly chart has broken down, and the daily signal has weakened from neutral to strongly bearish. The moving averages and indicators on the hourly and daily charts are aligned to the downside.

The bias is toward selling rallies. Watch whether buying on the five-minute chart fades and the 15-minute chart turns bearish.

DAX — 25856.39

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

The previous alignment of buying signals has broken down. The hourly moving averages are neutral and the indicators are bearish, while both moving averages and indicators on the daily chart remain strongly bullish.

For a buy in line with the daily trend, wait for the 15-minute and hourly charts to improve.

UK 100 — 10737.21

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

The short-term charts are correcting, but bullish signals on the hourly and daily charts remain. On the hourly chart, both the moving averages and indicators are bullish.

The higher-timeframe trend favours buying dips. Watch for selling on the 15-minute chart to stop and the signal to turn bullish again.

CAC 40 — 7972.97

The five-minute chart is strongly bearish; the 15-minute chart is neutral; the hourly chart is strongly bullish; the daily chart is bullish.

Strong buying on the short-term chart has weakened since the previous report. The hourly strong-buy signal and daily bullish signal remain, although the daily moving averages are neutral.

For a buy in line with the hourly trend, wait for the 15-minute chart to improve.

Nikkei 225 — 63290.11

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

The hourly signal has turned from strong buying to strong selling, and the daily signal has weakened from neutral to strongly bearish. There is a short-term rebound, but higher-timeframe weakness is clear.

The bias is toward selling rallies. Watch whether the five-minute rebound fades and the 15-minute chart turns bearish.

Strength Rankings

Bullish from the 15-Minute Chart Through the Daily Chart

• GBP/USD
• WTI crude oil

GBP/USD is strongly bullish from the 15-minute chart through the daily chart. Oil is also bullish across those timeframes, with its internal signals aligned.

Maintaining Bullish Signals on the Hourly and Daily Charts

• UK 100
• CAC 40

Selling or neutral signals remain on shorter timeframes. Wait for the 15-minute chart to realign with the higher-timeframe trend.

Correcting While Retaining Bullish Daily Signals

• GBP/JPY
• CHF/JPY
• AUD/USD
• CAD/JPY
• AUD/NZD
• GBP/CHF
• DAX

Even where the daily chart remains bullish, wait for the short-term or hourly correction to end.

Clear Short-Term Buying

• Dow Jones
• S&P 500

The hourly charts are neutral. Watch whether short-term strength extends to the hourly timeframe.

Weakness Rankings

Strongly Bearish Overall Across All Timeframes

• USD/JPY
• USD/CHF
• EUR/JPY
• EUR/GBP
• EUR/CHF
• AUD/JPY
• NZD/JPY
• Gold
• Gold futures
• Silver
• Silver futures
• Natural gas
• US wheat
• BTC

AUD/JPY’s daily indicators are strongly bullish, leaving a conflict between the overall signal and its internal readings.

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

• Copper

Both the moving averages and indicators are bearish across all timeframes.

Strongly Bearish on the Hourly and Daily Charts

• USD/CAD
• Nasdaq 100
• Nikkei 225

Short-term rebounds are present, so watch for buying to fade.

Trading Strategy

Prefer to Watch for Buy-on-Dips Setups

GBP/USD and WTI crude oil are bullish from the 15-minute chart through the daily chart.

GBP/USD is neutral on the five-minute chart, while oil is bearish on the five-minute chart. Watch for the short-term correction to end and price to resume in line with the higher-timeframe trend.

Buying Candidates Requiring Short-Term Improvement

The UK 100 and CAC 40 retain bullish signals on the hourly and daily charts.

Wait for short-term selling to ease and the 15-minute chart to turn bullish.

The DAX and GBP/JPY are strongly bullish on the daily chart but neutral on the hourly chart. Consider them after the hourly signals improve.

Sell-on-Rallies Candidates

USD/JPY, USD/CHF, EUR/JPY, EUR/GBP, EUR/CHF and NZD/JPY are aligned to the downside across all timeframes.

Gold, silver, natural gas, wheat and BTC are also strongly bearish across all timeframes. If they rebound, watch whether selling on the 15-minute and hourly charts holds.

AUD/JPY is also strongly bearish overall, but its daily indicators conflict with that signal and should be considered separately.

Sell Candidates Requiring a Short-Term Rebound to Fade

USD/CAD, the Nasdaq 100 and the Nikkei are strongly bearish on the hourly and daily charts.

The five-minute charts show strong buying. Wait for the short-term rebound to fade and the 15-minute chart to turn bearish again.

Wait for the Signals to Align

EUR/USD is strongly bullish on the hourly chart but bearish on the short-term and daily charts. The timeframes are in sharp conflict, so wait for them to realign.

The hourly internal signals for NZD/USD, CHF/JPY and GBP/CHF are also in conflict. Assess whether the moving averages and indicators agree rather than relying on the overall signal alone.

Key Takeaways

The bullish alignment in USD/JPY, CAD/JPY, GBP/CHF and the S&P 500—all strong in the previous report—has broken down. Reassess priorities using the current hourly and daily signals rather than carrying forward the previous report’s strength.

Among yen-related pairs, USD/JPY, EUR/JPY and NZD/JPY are clearly weak. GBP/JPY and CAD/JPY, however, retain bullish daily signals, so the yen crosses do not all point in the same direction.

Selling has spread across gold, silver, copper, natural gas and BTC, while oil retains bullish signals on the higher timeframes. Commodity pairs need to be assessed individually.

The Nasdaq 100 and Nikkei are weak on the hourly and daily charts, while the UK 100 and CAC 40 retain bullish higher-timeframe signals. Distinguish the strength of a short-term rebound from alignment with the daily trend.