📊 Technical Analysis – July 7, 2026

Market Overview

Today’s market is characterized by strength in the British pound, U.S. equities, and natural gas, while Bitcoin, the Nikkei 225, crude oil, and silver remain under pressure.

In the FX market, GBP/USD is showing strong buy signals across every timeframe, making the British pound the strongest major currency today. GBP/JPY also maintains bullish signals through the daily chart.

Meanwhile, USD/JPY has shifted into a short-term correction, with bearish signals on the lower timeframes, although the daily trend remains firmly bullish. In other words, the broader yen weakness remains intact despite the current pullback.

In equities, the Dow Jones Industrial Average continues to display strong buy signals across all timeframes, while the S&P 500 remains bullish on both the hourly and daily charts, confirming that U.S. equities continue to trade in a strong uptrend.

Among commodities, Natural Gas is the strongest performer with buy signals across every timeframe. In contrast, Crude Oil remains bearish on the daily chart, while Silver continues to weaken on both the hourly and daily timeframes.

Currency Market

USD/JPY

USD/JPY is trading at 161.89.

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

This suggests that the pair is experiencing a short-term correction within a broader uptrend.

Profit-taking following the move above 162.00, together with concerns over possible Japanese FX intervention, appears to be weighing on price.

Rather than chasing higher prices, waiting for confirmation of a new buying opportunity after the correction remains the preferred approach.

EUR/USD

EUR/USD is trading at 1.1437.

The short-term charts are strongly bullish, while the daily chart remains bearish.

The market is currently caught between a short-term rebound and a longer-term downtrend.

Long positions should therefore be viewed as short-term trades only, while the daily trend continues to favor selling into rallies.

GBP/USD

GBP/USD is trading at 1.3389.

Strong buy signals are present across every timeframe.

This is currently the strongest major dollar pair.

Both short-term and long-term trends are aligned to the upside, making GBP/USD one of the clearest buy-the-dip candidates.

AUD & NZD

AUD/USD is trading at 0.6950.

The pair remains strongly bullish from the 5-minute through the hourly charts, while the daily timeframe is neutral.

The short- and medium-term outlook remains positive, although the longer-term direction has yet to fully confirm.

NZD/USD is trading at 0.5695.

Short-term momentum is positive, but the daily chart remains strongly bearish.

AUD continues to outperform NZD, with AUD/NZD also maintaining strong buy signals on both the hourly and daily charts.

Yen Crosses

The yen crosses remain generally well supported.

The strongest pairs are:

• GBP/JPY
• AUD/JPY
• EUR/JPY

GBP/JPY and AUD/JPY show strong buy signals across every timeframe, while EUR/JPY also remains bullish through the daily chart.

CHF/JPY is relatively weaker with hourly bearish signals, while NZD/JPY remains mostly neutral.

CAD/JPY is bullish on the short-term charts but neutral on the daily timeframe.

EUR/GBP

EUR/GBP is trading at 0.8542.

The pair remains strongly bearish through the daily chart.

The strength of the British pound continues to outweigh the euro, reinforcing the current EUR-selling / GBP-buying trend.

Commodities

Gold

Gold (XAU/USD) is trading at 4,143.92.

Strong buy signals remain on the short-term and hourly charts, while the daily chart stays bearish.

Gold futures also remain bullish in the short term but neutral on the daily timeframe.

The rebound continues, although a confirmed long-term bullish reversal has yet to develop.

Buying pullbacks remains possible, but traders should respect the resistance shown on the daily chart.

Silver

Silver (XAG/USD) is trading at 61.0045.

The 5-minute chart remains bullish, but both the hourly and daily charts remain bearish.

Silver is noticeably weaker than gold, with less convincing rebound momentum.

Selling into rallies currently appears more attractive than buying.

Crude Oil

WTI Crude Oil is trading at 69.11.

Both the short-term and daily charts remain strongly bearish.

Although occasional rebounds occur, the broader trend clearly favors selling rallies.

Natural Gas

Natural Gas is trading at 3.308.

Strong buy signals are present across every timeframe.

It is currently the strongest commodity in today’s market.

With bullish alignment from short-term through daily charts, buying pullbacks remains the preferred strategy.

Bitcoin

BTC/USD is trading at 63,190.

Strong sell signals dominate the 5-minute, 15-minute, and hourly charts.

The daily chart is neutral, but short- and medium-term weakness remains evident.

The recent rebound has lost momentum, making rallies more attractive selling opportunities for now.

Equity Markets

U.S. Stocks

The Dow Jones Industrial Average is trading at 53,055.91.

Strong buy signals remain across every timeframe, making it the strongest major stock index.

The S&P 500 is trading at 7,537.43.

Although the 5-minute chart has turned temporarily bearish, the 15-minute, hourly, and daily charts all remain strongly bullish.

The overall uptrend remains intact.

The NASDAQ 100 is trading at 29,697.87.

Short-term momentum remains weaker than the Dow and S&P 500, although the hourly and daily charts continue to point higher.

Among U.S. indices, the Dow and S&P remain the stronger choices.

European Stocks

DAX and CAC40 are experiencing short-term corrections, while their daily trends remain strongly bullish.

The FTSE 100 continues to hold a solid bullish structure, making it one of the stronger European indices.

Japanese Stocks

The Nikkei 225 is trading at 68,315.

Bearish signals dominate from the short-term through the daily chart.

Among the major equity indices, the Nikkei is currently the weakest.

Strength Ranking

S Rank

• Dow Jones
• GBP/USD
• GBP/JPY
• AUD/JPY
• Natural Gas

A Rank

• S&P 500
• USD/CHF
• EUR/JPY
• AUD/USD
• AUD/NZD
• EUR/CHF

B Rank

• FTSE 100
• NASDAQ 100 (Daily)
• DAX (Daily)
• CAC40 (Daily)
• Gold (Short-term)
• CAD/JPY

Weakness Ranking

S Rank

• BTC/USD
• Nikkei 225
• WTI Crude Oil
• Silver
• EUR/GBP

A Rank

• USD/JPY (Short-term)
• DAX (Short-term)
• CAC40 (Short-term)
• NZD/USD (Daily)
• NZD/JPY (Hourly)

B Rank

• EUR/USD (Daily)
• Gold (Daily)
• CHF/JPY (Hourly)
• NASDAQ 100 (Short-term)
• S&P 500 (Short-term)

Key Market Themes

Today’s dominant themes are:

• British pound strength
• U.S. equity strength
• Natural gas strength

GBP/USD and GBP/JPY continue to lead the FX market.

Among equities, the Dow Jones remains the strongest index, while the S&P 500 also maintains a healthy uptrend. NASDAQ 100, however, is beginning to lag behind.

Within commodities, Natural Gas clearly outperforms, while Crude Oil and Silver remain under pressure.

USD/JPY is undergoing a short-term correction but continues to maintain a strong bullish trend on the daily timeframe.

Trading Strategy

Buy Bias

• GBP/USD
• GBP/JPY
• AUD/JPY
• Dow Jones
• S&P 500
• Natural Gas

Buy-the-Dip Candidates

• AUD/USD
• EUR/JPY
• USD/CHF
• AUD/NZD
• FTSE 100
• Gold (Short-term)

Sell-the-Rally Candidates

• BTC/USD
• WTI Crude Oil
• Silver
• EUR/GBP
• Nikkei 225
• NZD/USD

Markets Requiring Extra Caution

USD/JPY remains strongly bullish on the daily chart, but short-term momentum has weakened. Waiting for a confirmed pullback is preferable to chasing prices higher.

Gold remains bullish in the short term, although daily resistance continues to cap the broader trend. Long positions should therefore be treated as shorter-term opportunities.

NASDAQ 100 continues to lag behind the Dow Jones and S&P 500. For equity exposure, the Dow and S&P currently present stronger technical structures.

Summary

The dominant themes remain Pound strength, U.S. equity strength, and Natural Gas strength.

The strongest markets are:

• GBP/USD
• GBP/JPY
• AUD/JPY
• Dow Jones
• Natural Gas

The weakest markets remain:

• Bitcoin
• Nikkei 225
• Crude Oil
• Silver

USD/JPY continues to hold its long-term bullish trend despite the ongoing short-term correction from the 162.00 area.

Overall, the preferred strategy is straightforward:

Buy the strongest markets on pullbacks, and sell rallies in the weakest markets. At present, the British pound, U.S. equities, and Natural Gas continue to offer the clearest trading opportunities.