J.J. Edwards’ Expert Market Analysis at FenzoFx

[FxNews]

This Could be the Final Chance to Catch Gold at $4,000

FenzoFx—Gold lost 8.00% last day and slightly touched last week's low at $4,007.0. Currently, the price closed above the SMA 8 with a prior 4-hour long-wick bullish candlestick pattern. This price action promises the uptrend will likely resume.

However, wicks are considered as gaps in trading. Therefore, we expect the price to decline toward $4,045.0. If this level holds, the uptrend will likely resume, targeting $4,200.0 in the short term. On the other hand, if the price closes below $4,007.0, we expect the price to revisit $3,900.0.

Please note that last day's sell-off is NOT a market crash. The price only visited last week's low, meaning it erased one week's earnings.

 

[FxNews]

GBP/USD Bullish Setup is Above 1.3371

FenzoFx—GBP/USD is trading in the previous week's range while defending the bullish fair value gap from October 14. The price is yet below the 20 period SMA, despite the oversold signal by stochastic and the impulsive upside momentum yesterday.

From a technical perspective, GBP/USD can potentially aim for the weekly highs at 1.3471. However, for this scenario to unfold, the price must close above the 1.3371 immediate resistance. Furthermore, for the bullish outlook to remain valid, the mean threshold of the 4H fair value gap must remain intact.

 

[FxNews]

Bitcoin Tests Bearish Liquidity Zone

FenzoFx—Bitcoin is up 7.50% since last Monday, trading around $115,600.00. The wide range from the recent selloff to the bounce at $103,517.00 adds risk. The bearish outlook remains valid as BTC nears the bearish fair value gap with a mean threshold at $116,000.00.

Traders should watch for bearish structure breaks and engulfing candles in the orange zone. If $116,600.00 holds, BTC may dip to $112,325.00. On the flip side, a close above $116,600.00 could fill the gap and reach $119,714.00. Note: Sunday’s bullish candle formed in a low-liquidity session, with institutional activity limited.

 

[FxNews]

XRP Approaches Key Resistance Zone

FenzoFx—Ripple (XRP) is up 12.00% since Thursday, trading near $2.650 and approaching resistance at $2.7700. Despite holding above the ascending trendline after Friday’s wick, XRP faces two key resistances: $2.7700 and the descending trendline.

Volume remains flat, suggesting buying pressure is being absorbed by dormant sellers. The outlook remains bearish unless price breaks above $3.103. If $2.7700 holds, XRP may decline toward $2.224, with further downside targets at $2.073 and $1.922.

 

[FxNews]

Bitcoin Cash Faces Resistance at $568

FenzoFx—Bitcoin Cash closed bearish after testing the $568.7 resistance. BCH is now trading near $555.0, inside the bearish fair value gap. The market outlook remains bearish as price closed below the bullish channel, with $568.0 acting as key resistance.

If this level holds, BCH/USD may dip toward $515.0. A close and stabilization above $568.0 would invalidate the bearish setup and suggest a bullish move toward $615.0.

 

[FxNews]

Euro Eyes Breakout Ahead of Rate Decision

FenzoFx—EUR/USD is trading lower today, below the descending trendline. The price has been reacting to the ascending trendline multiple times as shown on the chart. There is a double bottom formed at $1.1584, which could limit the upside momentum as liquidity rests below them. As we approach the US interest rate decision, we expect Euro to trade higher against the U.S. dollar and break above the descending trendline.

In this scenario, Euro could rally to 1.1766, followed by 1.1830. On the flip side, if Euro remains below the descending trendline, the price could target the double bottom at 1.1584, as sell-side liquidity is resting below this level.

 

[FxNews]

Japanese Yen Consolidates Near Critical Support

FenzoFx—Japanese Yen is consolidating near 0.0065 after the price slightly gapped below this level on Monday. This level has further support from the lower line of the bearish channel.

The primary trend is bearish. However, the currency is oversold. Therefore, a consolidation toward higher resistance levels is expected before the downtrend resumes. In this scenario, JPY could tap into the liquidity void at 0.0066. This level can provide a premium price to sell JPY against other major currencies such as GBP and EUR.

 

[FxNews]

Bearish Engulfing Signals Downside for Litecoin

FenzoFx—Litecoin filled 25% of the bearish fair value gap from Friday’s selloff, tapping into the $106.00 liquidity zone. The last candle is a bearish engulfing; signaling potential downside as both buyside and sell side liquidities were swept.

Resistance sits at $106.00. If this level holds, the downtrend may extend toward $85.50 and $78.60. The bearish outlook remains valid unless LTC/USD closes above $106.00 on the daily chart. A break above this level could trigger a move toward the upper line of the bearish channel.

 

[FxNews]

Bearish Pressure Builds Below $208

FenzoFx—Solana's uptick momentum has been capped by the descending trendline, even though the price flipped above the $185.00 mark.

The daily chart shows long-wick bearish candles, indicating the selling pressure persists below the $208.00 resistance. From a technical perspective, the downtrend will likely resume if the price closes below the inverted fair value gap. In this scenario, SOLANA could decline toward the primary support at $172.00.

Please note that the bearish outlook should be invalidated if the price exceeds the $208.00 mark.