J.J. Edwards’ Expert Market Analysis at FenzoFx

[FxNews]

EUR/USD Bearish Setup with Target

FenzoFx—EUR/USD filled the bullish fair value gap after it swept the highs at 1.1730, formed a double top. However, the recent decline in the currency pair did not result in a liquidity sweep below recent lows.

Therefore, the bearish outlook remains valid despite the primary trend, which is bullish. This week, we expect EUR/USD to trade below $1.1591 to accumulate liquidity before rallying higher.

Retail traders should monitor the middle line of the bearish engulfing pattern with resistance at $1.1685 for a bearish setup, targeting the equal lows followed by the bullish order block with ultimate support at $1.1528.

 

[FxNews]

AUD/USD Bearish Setup with Targets Explained

FenzoFx—AUD/USD formed new lower lows and lower highs after it was displaced by closing below $0.6485. Interestingly, the pair created equal lows at $0.6418. This indicates the trend should be considered bearish, and liquidity is present below $0.6418.

Currently, AUD/USD is consolidating by tapping into the bearish order block. From a technical perspective, we expect the downtrend to resume.

Targets: $0.6418 followed by $0.6372.

 

[FxNews]

GBP/USD Is Falling: Here's Why Selling Could Be Risky

FenzoFx—GBP/USD displaced below $1.3446 minor support in today's trading session. This dip in the price could be a trap for two major reasons:

There is a smooth equal highs at $1.3490, and above it exists the weekly opening gap. The market tends to invalidate equal highs and fill the weekly opening gap price.

Therefore, selling at the current price is risky. We suggest using the weekly opening gap to plan a bearish trade. If this scenario unfolds, we expect GBP/USD to target the equal lows at $1.3399. This setup provides a 1 to 4 risk to reward.

 

[FxNews]

GBP/JPY: Key Levels to Watch: 199.53 and 198.3

FenzoFx—GBP/JPY trades sideways after dropping below 198.59. The recent momentum shift formed a bearish order block at 199.53. The outlook stays bearish if price remains below this level.

The 4-hour chart reveals equal lows at 198.3, a key target. For the bearish trend to continue, price must stay under the midpoint of the order block. If selling pressure persists, 197.85 is the next target. A break above 199.53 would invalidate this setup.