Technical Analysis — November 5, 2026

Overview

Today’s key themes are continued buying in USD/JPY and some yen crosses, short-term corrections in dollar pairs, and diverging signals among US equity indices.

In FX, USD/JPY, GBP/JPY, AUD/JPY, and CAD/JPY are strongly bullish across all timeframes. By contrast, the 5-minute and 15-minute charts for EUR/USD, GBP/USD, AUD/USD, and NZD/USD have turned strongly bearish, reversing the previous short-term buying signals.

GBP/USD remains strongly bullish on the daily chart, but its hourly chart is neutral. EUR/USD and AUD/USD are neutral on the hourly and daily charts. Watch whether these pairs can resume buying after their short-term corrections.

Among commodities, gold remains strongly bullish on the 15-minute and hourly charts. Silver retains a strongly bearish daily signal, while copper has deteriorated to strong selling on the hourly chart. Oil is showing a short-term rebound, while natural gas and wheat are notably weak from the short-term charts through the hourly chart.

Among equity indices, the Dow has improved significantly and is strongly bullish from the 15-minute chart through the daily chart. The DAX also remains strongly bullish across all timeframes. By contrast, bearish signals persist in the Nasdaq 100 and Nikkei, highlighting the divergence between indices.

Main Changes from the Previous Report

EUR/USD and GBP/USD have shifted from strong buying to strong selling on the 5-minute and 15-minute charts. EUR/USD’s daily signal has weakened from bullish to neutral, while GBP/USD’s hourly signal has weakened from strongly bullish to neutral.

USD/JPY remains strongly bullish across all timeframes. However, the hourly indicator has eased from strongly bullish to bullish, and the daily moving-average signal has also weakened from strongly bullish to bullish.

USD/CHF has improved: the 15-minute chart has shifted from bearish to strongly bullish, while the hourly chart has moved from bearish to neutral. USD/CAD has also developed a 5-minute buying signal, but strong selling on the hourly and daily charts continues.

CHF/JPY has turned strongly bearish on the short-term charts, and its hourly chart is now neutral. AUD/JPY, meanwhile, has improved from bullish to strongly bullish on the daily chart, aligning its overall signals to strong buying across all timeframes.

EUR/GBP has lost its short-term buying signals, leaving it strongly bearish across all timeframes overall. However, its hourly indicators are strongly bullish, so conflicting internal signals remain.

Gold futures have improved from bearish to bullish on the daily chart. Spot gold has also improved from bearish to neutral on the daily chart. Copper, by contrast, has deteriorated from strong buying to strong selling on the hourly chart.

BTC has improved from bearish to strongly bullish on the daily chart, but the 5-minute and 15-minute charts have turned strongly bearish.

The Dow’s hourly and daily signals have improved from strongly bearish to strongly bullish. The UK 100’s daily chart has also improved from neutral to strongly bullish.

The Nikkei’s previous short-term buying signals have broken down, leaving it strongly bearish from the 15-minute chart through the daily chart.

FX

EUR/USD — 1.1238

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

The strong buying from the short-term charts through the hourly chart seen in the previous report has broken down. On the hourly chart, both moving averages and indicators are neutral. On the daily chart, moving averages are neutral and indicators are bullish.

Selling is favored in the short term, but bearish signals are not aligned on the higher timeframes. Watch whether selling on the 15-minute chart clears or the hourly chart also turns lower.

GBP/USD — 1.3472

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

The daily moving averages and indicators remain strongly bullish. On the hourly chart, however, moving averages are neutral and indicators are bearish, showing that the short-term correction is spreading.

This is a potential pullback-buying setup based on the daily trend, but wait for the 15-minute and hourly charts to turn bullish again.

USD/JPY — 158.29

All timeframes are strongly bullish.

Moving averages and indicators point higher across all timeframes. Some signals have weakened since the previous report, but no timeframe is bearish.

The setup favors buying pullbacks. Watch whether buying on the 15-minute and hourly charts holds after a correction.

USD/CHF — 0.8166

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 broadened. The hourly chart has also improved, but its moving averages are neutral and indicators are bullish, so the signals are not yet fully aligned to the upside.

Short-term buying conflicts with the daily downtrend. If considering a sell in line with the daily chart, wait for the short-term buying to weaken.

AUD/USD — 0.7012

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

The strong buying from the short-term charts through the hourly chart seen previously has weakened. On both the hourly and daily charts, moving averages are neutral and indicators are bullish, leaving some higher-timeframe support.

Do not treat short-term selling alone as a resumption of the daily downtrend. Watch whether the 15-minute chart improves.

NZD/USD — 0.5637

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

Short-term buying has broken down, but both moving averages and indicators remain bullish on the hourly chart. The daily chart has improved from strongly bearish to bearish.

Signals are not aligned across the short-term, hourly, and daily charts. Watch whether hourly buying returns to the short-term charts or shifts to selling in line with the daily trend.

USD/CAD — 1.3954

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

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

The broader setup favors selling rallies. Watch whether the 5-minute rebound fades and the 15-minute chart also turns bearish.

Yen Crosses and Relative Currency Strength

EUR/JPY — 177.88

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

Short-term strength has eased since the previous report, but the 15-minute chart and higher timeframes remain bullish. On the daily chart, however, moving averages are neutral while indicators are strongly bullish.

This is a potential pullback-buying setup. Watch whether the 5-minute chart turns bullish again and buying on the 15-minute chart holds.

GBP/JPY — 213.25

All timeframes are strongly bullish.

Moving averages and indicators are aligned to the upside across all timeframes. The 5-minute and hourly indicators are bullish, but there is no conflict with the higher-timeframe trend.

As in the previous report, this is a pair to prioritize for buying pullbacks.

CHF/JPY — 193.84

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

The pair has shifted from strong buying across all timeframes to a short-term correction. On the hourly chart, moving averages are neutral and indicators are bearish.

This is a potential pullback-buying setup based on the daily trend. Wait for short-term selling to stop and the hourly chart to turn bullish again.

AUD/JPY — 110.99

All timeframes are strongly bullish.

The daily chart has improved from bullish to strongly bullish. Moving averages and indicators point higher across all timeframes.

While AUD/USD is correcting in the short term, AUD/JPY remains bullish. The setup favors buying pullbacks.

NZD/JPY — 89.24

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

On the 5-minute chart, moving averages are strongly bullish while indicators are bearish. Both moving averages and indicators are neutral on the daily chart.

The hourly chart remains strong, but the overall alignment is weaker than in AUD/JPY, where buying extends to the daily chart.

CAD/JPY — 113.46

All timeframes are strongly bullish.

Moving averages and indicators are aligned to the upside across all timeframes. The short-term moving averages on the 5-minute and 15-minute charts have weakened since the previous report, but the hourly and daily charts remain strongly bullish.

The setup favors buying pullbacks. Watch whether higher-timeframe buying holds through a short-term correction.

EUR/GBP — 0.8341

The overall signals are strongly bearish across all timeframes.

The short-term rebound seen previously has broken down, bringing the pair back in line with its daily trend. However, the hourly moving averages are strongly bearish while the indicators are strongly bullish.

This is a potential selling-rallies setup, but the internal signals are not fully aligned. Watch whether the hourly indicators also turn bearish.

AUD/NZD — 1.2438

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

Moving averages and indicators are aligned to the downside on the hourly chart. On the daily chart, both are bullish. The 5-minute and 15-minute charts also show conflicts between moving averages and indicators.

This is a potential pullback-buying setup based on the daily trend, but wait for strong selling on the hourly chart to clear.

EUR/CHF — 0.9176

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

As in the previous report, buying from the short-term charts through the hourly chart conflicts with the daily downtrend. On the hourly chart, moving averages are bullish and indicators are strongly bullish.

Short-term buying remains intact, but both moving averages and indicators are strongly bearish on the daily chart. Treat the rebound separately from a reversal in the daily trend.

GBP/CHF — 1.1001

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

Moving averages and indicators are aligned to the upside from the short-term charts through the hourly chart. The daily chart has weakened from bullish to neutral since the previous report.

This is a potential short-term pullback-buying setup, but GBP/CHF is less aligned than GBP/JPY, where buying extends to the daily chart.

Commodities

Gold — 4,126.98

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

The daily signal has improved since the previous report, but the 5-minute chart is correcting. Moving averages and indicators are aligned to the upside on the 15-minute and hourly charts.

This is a potential pullback-buying setup after a short-term correction. Watch whether the 5-minute chart improves while strong buying on the hourly chart holds.

Gold Futures — 4,133.75

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

The daily chart has improved from bearish. Its moving averages are neutral, however, while indicators are strongly bullish. On the 5-minute chart, bullish moving averages conflict with bearish indicators.

The higher-timeframe signals have improved. Watch whether the short-term conflict clears and the 15-minute chart and higher timeframes remain aligned to the upside.

Silver — 52.7570

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

Short-term and hourly momentum has eased since the previous report. On the 5-minute chart, moving averages are bullish while indicators are bearish.

The hourly buying signal remains, but daily weakness continues. Watch whether the short-term rebound holds.

Silver Futures — 52.735

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

Both moving averages and indicators on the 5-minute chart have turned bearish. On the 15-minute and hourly charts, buying remains aligned.

Short-term selling, an hourly rebound, and daily weakness are all present. The key question is whether the 5-minute chart turns bullish again or buying on the 15-minute chart breaks down.

WTI Crude Oil — 88.42

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

The pair has rebounded from the short-term selling seen previously. On the hourly chart, moving averages are bearish while indicators are strongly bullish. The daily signal has also become more strongly bearish.

The daily trend favors selling rallies, but short-term buying continues. Watch for the rebound to fade and for the hourly chart to align with the downside.

Natural Gas — 2.928

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

The strong buying from the short-term charts through the hourly chart seen previously has broken down. Moving averages and indicators are aligned to the downside through the hourly chart.

Selling rallies is favored in the short term. On the daily chart, however, moving averages are bearish while indicators are bullish, so the downtrend is not yet aligned across all timeframes.

Copper — 6.3942

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

The hourly chart has shifted from strong buying to strong selling. Moving averages and indicators are aligned to the downside on both the hourly and daily charts.

The broader setup favors selling rallies. Watch whether the short-term rebound fades and the 15-minute chart turns lower.

US Wheat — 597.40

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

The 15-minute strong-buy signal and hourly neutrality seen previously have cleared, bringing the market back in line with its daily trend. Moving averages and indicators are strongly bearish on both the hourly and daily charts.

Selling rallies is favored. The 5-minute indicators remain bullish, but the higher-timeframe weakness is clear.

BTC/USD — 80,410.0

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

The daily chart has improved from bearish. In the short term, however, a correction is underway, with both moving averages and indicators aligned to the downside on the 5-minute and 15-minute charts.

This is a potential pullback-buying setup based on the daily trend. Wait for the 15-minute chart to improve while hourly buying holds.

Equity Indices

Dow Jones — 53,356.12

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

The hourly and daily charts have reversed from strong selling to strong buying. Moving averages and indicators are aligned to the upside from the 15-minute chart through the daily chart.

This is a potential pullback-buying setup. Watch whether the 5-minute correction clears and the market resumes its higher-timeframe uptrend.

S&P 500 — 7,688.62

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

The hourly chart has improved significantly from strong selling in the previous report. On the daily chart, moving averages are strongly bullish while indicators are bearish. The 15-minute chart also has conflicting bullish and bearish signals.

The rebound has extended to the hourly chart, but buying is not aligned on the daily chart as it is for the Dow.

Nasdaq 100 — 28,437.17

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 strong selling to neutral, but moving averages are strongly bearish while indicators are bullish.

The Nasdaq remains weaker than the Dow. Selling rallies is a potential setup, but watch whether the hourly indicators also turn bearish.

Germany 40 (DAX) — 26,591.00

All timeframes are strongly bullish.

Moving averages and indicators are aligned to the upside across all timeframes. As in the previous report, bullish signals continue from the short-term charts through the daily chart.

Among the equity indices, the DAX has the clearest alignment for buying pullbacks.

UK 100 — 10,920.00

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

The daily chart has improved from neutral to strongly bullish. Moving averages and indicators are strongly bullish on both the hourly and daily charts.

On the 5-minute chart, moving averages are bullish while indicators are bearish. This is a potential pullback-buying setup after a short-term correction.

France 40 (CAC 40) — 8,254.16

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

The 5-minute chart has corrected after strong buying across all timeframes in the previous report. Strong buying on the hourly and daily charts remains intact.

The setup favors buying pullbacks. Watch whether selling on the 5-minute chart stops and the market resumes its uptrend on the 15-minute chart and higher timeframes.

Nikkei 225 — 61,158.00

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

The 5-minute and 15-minute buying signals seen previously have broken down. Moving averages and indicators are strongly bearish on both the hourly and daily charts.

Selling rallies is favored. Despite improvements in some European and US indices, the Nikkei’s higher-timeframe weakness remains clear.

Strength Rankings

Strongly bullish on all timeframes

• USD/JPY
• GBP/JPY
• AUD/JPY
• CAD/JPY
• Germany 40 (DAX)

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

Strongly bullish from the 15-minute chart through the daily chart

• Dow Jones
• UK 100
• France 40 (CAC 40)

Short-term corrections remain, so watch for the 5-minute charts to improve.

Higher-timeframe bullish markets undergoing a correction

• GBP/USD
• CHF/JPY
• BTC/USD
• Gold futures

GBP/USD and CHF/JPY are neutral on the hourly chart. BTC is bullish on the hourly chart, while gold futures are strongly bullish there, so the depth of the correction varies.

Short-term rebounds conflicting with bearish daily signals

• EUR/CHF
• Silver
• Silver futures

Buying remains on the short-term and hourly charts, but the daily charts are strongly bearish.

Weakness Rankings

Strongly bearish from the 15-minute chart through the daily chart

• Nikkei 225
• US wheat

Selling extends from the short-term to the higher timeframes, making these clear candidates for selling rallies.

Strongly bearish overall across all timeframes

• EUR/GBP

The hourly indicators are strongly bullish, however, leaving an internal conflict.

Clear selling signals on the hourly and daily charts

• USD/CAD
• Copper

Short-term rebounds are present, but the higher timeframes remain aligned to the downside.

Strongly bearish from the short-term charts through the hourly chart

• Natural gas

The daily chart is neutral, so treat this separately from markets that are bearish through the daily timeframe.

Bearish daily signals remain

• Nasdaq 100
• WTI crude oil
• EUR/CHF
• Silver

Short-term or hourly rebounds are present. If considering a sell, wait for the signals across timeframes to align.

Trading Strategy

Prioritize pullback-buying setups

USD/JPY, GBP/JPY, AUD/JPY, CAD/JPY, and the DAX are strongly bullish across all timeframes overall.

Focus on setups where buying on the 15-minute and hourly charts holds through a short-term correction and the 5-minute chart turns bullish again.

The Dow, UK 100, and CAC 40 are also strongly bullish from the 15-minute chart upward. Watch for their 5-minute corrections to clear.

Wait for buying to resume

GBP/USD and CHF/JPY are strongly bullish on the daily chart, but strongly bearish on the short-term charts and neutral on the hourly chart. Wait for the 15-minute and hourly charts to improve.

BTC is bullish on the hourly chart and strongly bullish on the daily chart. The key is whether the 15-minute chart turns bullish after the correction.

For gold futures, focus on the buying signals from the 15-minute chart upward and wait for the 5-minute conflict to clear.

Prioritize selling-rallies setups

The Nikkei and US wheat are strongly bearish from the 15-minute chart through the daily chart.

USD/CAD and copper also show clear selling signals on the hourly and daily charts. Watch whether short-term rebounds fade and the 15-minute charts turn lower.

Natural gas is aligned to the downside from the short-term charts through the hourly chart, but the daily chart is neutral. Treat this as a short-term selling setup.

Wait for conflicting signals to resolve

EUR/GBP is strongly bearish overall across all timeframes, but its hourly indicators are strongly bullish.

The hourly moving averages and indicators also conflict in the Nasdaq and oil. Wait for stronger alignment to the downside before considering a sell.

The S&P 500 is strongly bullish on the hourly chart but neutral on the 15-minute and daily charts. Watch whether buying extends to the adjacent timeframes.

Key Takeaways

The key distinction today is between markets where the buying signals from the previous report remain intact and those that have shifted into a short-term correction. USD/JPY, AUD/JPY, and CAD/JPY remain aligned to the upside, while GBP/USD and CHF/JPY have developed strong short-term selling signals.

Within US equities, the Dow has improved to bullish signals on the higher timeframes, while the Nasdaq remains strongly bearish on the daily chart. Assess the indices individually rather than applying one view to the entire US market.

There is also a widening gap between gold and silver. Gold futures have improved to bullish on the daily chart, while silver remains strongly bearish there. Copper has also turned strongly bearish on the hourly chart, so metals are not moving uniformly higher.

When treating short-term selling as a pullback, do not rely on the daily signal alone. Give weight to whether the hourly chart continues to hold its buying signal and whether the 15-minute chart begins to improve.