Insights from the Market Desk by FenzoFx.com

[FxNews]

Bearish Cup and Handle Pattern in Silver





FenzoFx—Silver formed a bearish cup and handle pattern on the 4-hour chart. A new bearish wave could emerge if XAG/USD dips below $32.75, targeting $32.11.

[FxNews]

Head and Shoulders Pattern Signals Next GBP/USD Moves





FeznoFx—GBP/USD dipped from $1.2974 and formed a head and shoulders pattern on the 30-minute chart. The immediate support is at $1.2890, while the immediate resistance lies at $1.2930.


From a technical perspective, if the price falls below $1.2890, the current bearish momentum could extend to $1.2865, followed by $1.2800. Conversely, if the bulls push and stabilize the price above $1.2930, the bearish outlook would be invalidated, and the price could target $1.2956.

[FxNews]

EUR/JPY: Bullish Trend Faces Key Support Levels





FenzoFx—EUR/JPY broke above the 162.62 resistance yesterday, forming new higher highs. However, the bullish momentum eased, and the pair consolidated below the 162.62 mark, settling at approximately 162.51.


The key support for the bullish trend lies at 162.13, reinforced by the 50-period simple moving average. If this level holds, the EUR/JPY uptrend is likely to resume, targeting 163.5, followed by 164.18.


Please note that the bullish outlook would be invalidated if EUR/JPY falls below 162.13. In such a scenario, the bears could potentially test the 161.6 support level.

[FxNews]

Bitcoin Tests $87,520 Resistance Amid Overbought Signals





FenzoFx—Bitcoin is testing the $87,520.00 resistance in today's trading session, while the Stochastic Oscillator hovers in overbought territory. The primary trend should be considered bullish, as BTC is trading above the 50-period simple moving average. Therefore, the uptrend could resume and target $94,860.00 if the bulls push the price above the immediate resistance.


A break below the ascending trendline or the 50-SMA would invalidate the bullish outlook.

[FxNews]

March Lows Fuel NATGAS Bullish Push




FenzoFx—Natural Gas tested the $3.94 resistance after it bounced from March 3 lows. If NATGAS stabilizes above the resistance, the next bullish target could be $4.030.

Conversely, a close below $3.895 will invalidate the bullish outlook, with the next target at $3.81.

[FxNews]

EUR/JPY Formed a New Higher-Highs





FenzoFx—EURJPY formed new higher highs at 162.32, indicating the uptrend can potentially resume. However, we require confirmation that this is not a fake bullish break-out. Therefore, a close above the previous higher high at 162.3 can trigger the bulls, targeting 162.62.


Conversely, a break below 162.0 could trigger a bearish move, pushing the pair toward 161.6.

[FxNews]

EUR/USD: Bullish Continuation Hinges on $1.0826





FenzoFx—EUR/USD is currently testing the $1.0826 support level, having recently broken through a previous resistance area. The higher time frame indicates that the primary trend remains bullish. If the pair stabilizes above $1.0826, the uptrend is likely to resume, with a target of $1.0861.

In the bullish scenario, immediate resistance rests at $1.083. A close above this level could trigger a new bullish wave. However, the bullish scenario will be invalidated if EUR/USD falls below $1.0814.

[FxNews]

NATGAS

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FenzoFx—Natural Gas formed lower lows in lower time frames after failing to surpass $4.235. The next bearish target could be testing the $4.145 support.

[FxNews]

Bitcoin Targets $91,400 After Key Breakout




FenzoFx—Bitcoin broke above the $85,100 resistance and is testing this area as support. The 50-SMA serves as the primary support for bullish BTC.


If the price stays above it, the next target could be $91,400.

[FxNews]

NATGAS in the Verge of a Breakout




FenzoFx—NATGAS has been forming higher highs and lower lows after testing the $3.990 support. As of this writing, Natural Gas trades at approximately $4.148, slightly above the critical resistance level.


From a technical perspective, the current bullish momentum could lead the prices to target $4.220 if they surpass the recent higher highs at the $4.145 mark. Please note that the uptrend requires confirmation, which is the price closing above the previous high on the 5-minute chart.


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