Technical Analysis – May 29, 2026
Market Summary
The current market theme is:
“Risk-on led by the New Zealand dollar”
plus
- Rising equities
- Gold rebounding
- Oil moving lower
- The U.S. dollar staying firm against the yen
In one sentence:
Capital is rotating back into risk assets.
However, USD/JPY remains elevated.
That is the key point.
1. U.S. Dollar
USD/JPY – 159.29
5-min: Neutral
15-min: Buy
Daily: Strong Buy
→
Holding firmly near the highs.
The dollar has not broken lower yet.
USD/CHF
All timeframes:
Strong Sell
A complete reversal from the previous tone.
This signals:
Dollar weakness + Swiss franc strength
Safe-haven demand is returning.
2. European Currencies
Overall very strong.
EUR/USD
Short-term through hourly:
Strong Buy
Daily chart remains Sell.
→
The rebound within the broader downtrend continues.
GBP/USD
Still relatively weak overall,
but short-term momentum is improving.
EUR/GBP
Very strong.
→
Euro clearly outperforming sterling.
3. Oceania
The strongest region right now.
AUD/USD
Very strong.
NZD/USD
All timeframes:
Strong Buy
Extremely strong.
AUD/NZD
Sell across all timeframes.
→
NZD remains the strongest currency.
4. Yen Crosses
Very strong overall.
EUR/JPY
Strong across the board.
AUD/JPY
Very strong.
NZD/JPY
All timeframes:
Strong Buy
Very clean bullish structure.
CHF/JPY
Strong across all timeframes.
CAD/JPY
Still weaker than the rest.
5. Gold & Silver
Strong rebound.
Gold
Short-term through hourly:
Strong Buy
Silver
15-min chart strong.
→
Gold is outperforming within metals.
6. Energy
A mixed picture.
WTI Crude Oil
Around $87
Strong Sell
Clearly weak.
Natural Gas
All timeframes:
Strong Buy
Very strong momentum.
7. Bitcoin
Still heavy.
Daily chart:
Strong Sell
→
Rebounds remain limited.
8. Equities
Broad strength continues.
U.S. Equities
Dow Jones – Strong across all timeframes
S&P 500 – Very strong
NASDAQ – Strong on hourly and daily charts
Europe
FTSE 100 – Strong across all timeframes
CAC 40 – Strong
Japan
Nikkei 225 – 66,330
Very strong.
Strongest Assets
S Rank
- NZD/USD
- NZD/JPY
- Natural Gas
- Dow Jones
- S&P 500
- Nikkei 225
A Rank
- EUR/JPY
- AUD/USD
- Gold
Weakest Assets
- Crude Oil
- AUD/NZD
- Bitcoin
- CAD/JPY
Final Take
Right now,
risk-on remains the dominant market theme.
In summary:
Buy bias
- NZD/USD
- NZD/JPY
- EUR/JPY
- Gold
- U.S. equities
- Nikkei
Sell bias
- Crude Oil
- AUD/NZD
- Bitcoin
The two biggest takeaways:
NZD is the strongest
and
Oil is the weakest
At the same time,
USD/JPY continues to hold above 159.
So this is not broad-based dollar weakness.
Instead, it is a very specific environment:
A risk-on market, while USD/JPY remains elevated.
