Insights from the Market Desk by FenzoFx.com

[FxNews]

Bitcoin Technical Analysis





FenzoFx—BTC/USD trend outlook is bearish below $88,650. A break below the immediate support of $81,160 can trigger a new bearish wave, targeting the next support area at $77,850.

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Crude Oil Dipped, Testing Critical Support Level





FenzoFx—Crude oil dropped from $72.20 and is now testing the $68.8 support. The decline was expected as the Stochastic oscillator signaled overbought conditions. If $68.8 breaks, the downtrend could extend to $67.6. However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.

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Solana Trades Sideway




FenzoFx—Solana trades sideways. A break below 122.7 can trigger the downtrend, targeting $112.3. However, the bearish outlook should be invalidated if Solana closes and stabilizes above 130.4.

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GBP/USD Awaits Breakout Near 1.294





FenzoFx—The GBP/USD pair is trading near $1.294, staying close to the 50-period simple moving average as the market remains indecisive. Since March 7, price action has been confined to a narrow range.


Bullish Outlook: A push above $1.3010 could trigger further gains, with $1.3100 as the next resistance.


Bearish Scenario: A drop below $1.2865 would weaken the bullish bias, potentially leading to a decline toward $1.2800.

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AUDUSD Technical Analysis






FenzoFx—The AUD/USD pair moved upward after struggling to stay below the 78.6% Fibonacci retracement level. Currently, the price is around $0.6300, sitting above the 50-period moving average.

If AUD/USD holds above the key support at 0.626, it may climb toward the next resistance at $0.6329.

However, if the price falls below 0.626, a bearish trend could follow, potentially pushing the pair down to 0.6187.

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USDJPY Technical Analysis





FenzoFx—USDJPY tested 150.25, a trading range below this level and the 50-period simple moving average. A close above 150.25 can trigger the uptrend, targeting 151.2.


Conversely, a dip below 148.2 invalidates the bullish outlook, with 148.2 as the first target and 147.43 as the secondary target.

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XRP tests Key Resistance Level





FenzoFx—Ripple (XRP) has climbed from $2.026 and is currently testing resistance at $2.218. Despite this upward movement, the overall trend remains bearish as the price stays below the 50-period simple moving average on the 4-hour chart.

The nearest support level is $2.026. If XRP/USD drops below this point, the downtrend may strengthen, potentially driving the price toward $1.90 and then $1.80.



Bullish Outlook

For the bearish trend to reverse, XRP needs to break above the immediate resistance at $2.218. If that happens, the next target could be $2.355.

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Litecoin Tests Key Support: Reversal or Further Drop?





FenzoFx—Litecoin is currently testing a key support zone between $80.0 and $83.0, which previously marked its February low. The overall trend remains bearish, but this support level could trigger a price rebound, potentially shifting momentum in favor of buyers. If Litecoin holds above $80.0, there is a possibility of a recovery toward $100.0.


However, if sellers manage to break below this critical level, the downward trend may continue, with the next target set at $75.0.

[FxNews]

USD/CAD Pulls Back After Hitting 1.4400





FenzoFx— The USD/CAD pair hit 1.4400 but lost momentum, pulling back from resistance. Technically, USD/CAD may dip toward the 50-period SMA near 1.4330 before resuming its uptrend.


However, if USD/CAD drops below 1.4330, the bearish momentum may extend to the 1.4250 support, invalidating the bullish outlook.

[FxNews]

Ethereum Price Rebounds: Key Levels to Watch





FenzoFx—Ethereum's downtrend stabilized at $1,755, a key support level. Currently, ETH/USD trades at $1,854, testing resistance.

A double bottom pattern on the 4-hour chart suggests potential growth if bulls secure a close above $1,860. The next target could be $1,950, supported by the 50-period moving average.