Insights from the Market Desk by FenzoFx.com

[FxNews]

Gold: Bearish Divergence Signals Weak Momentum





FenzoFx—Gold tapped into the $4,050.00 buy-side liquidity yesterday, currently trading below this level. The cumulative volume delta demonstrates a lack of buying interest in gold, formed a bearish divergence with the price chart.


From a technical perspective, if Gold remains below $4,050.00, the price will likely decline toward the equal lows at $3,925.00.

[FxNews]

Bearish Gap Caps XAU/USD Upside





FenzoFx—Gold traded lower after it crossed above the descending trendline, capped at the $4,050.00 bearish gap. Currently, Gold is testing the trendline as support, with support at $3,925.00. The recent breakout has confirmation from cumulative volume delta, and the delta also made a new higher low and lower high.


The immediate support rests at $3,925.00. Yesterday, the price swept the sell-side liquidity by a few ticks below this level. This means the price should not return below this level in the current session if the market is bullish today.


From a technical perspective, if $3,925.00 support holds, XAU/USD will likely rise to take the buy-side liquidity at $4,050.00. Please note that the bearish outlook should be invalidated if the price closes below the immediate support. This setup has a 1 to 4 risk-to-reward.

[FxNews]

XRP Rejected at Key Resistance





FenzoFx—XRP failed to close above the $2.6480 resistance on Monday, dipping 6.00% to $2.5460, just above the bullish fair value gap. A momentum divergence confirms the strength of the $2.6480 resistance zone, highlighted in grey on the daily chart.


From a technical standpoint, XRP may trade lower toward $2.430, supported by the ascending trendline. If selling pressure persists, further downside targets include $2.224 and $2.073.


The bearish outlook remains valid as long as XRP/USD trades below the descending trendline. October 10’s long lower wick also suggests a gap that may attract price to fill, reinforcing the bearish scenario.

[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.

[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]

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 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]

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]

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]

Gold Offer Buy Setup at These Levels





FenzoFx—Gold dipped 2.00% today, nearing the ascending trendline. This pattern has been seen multiple times in the current and previous month where Gold dips to provide new discount prices to go long.


Interestingly, volume did not decrease as significantly as the price. This means there are buyers that are constantly buying Gold or the current decline is manipulation. From a technical perspective, XAU/USD is in an uptrend.


The $4,236.0 support, which aligns with the trendline, is a decent entry point to join the bull market if the buying volume is significant at this level. The stop should be below $4,200.0 for this setup, targeting the all-time highs.