Insights from the Market Desk by FenzoFx.com

[FxNews]

Apple Trades Sideways but Outlook Remains Bullish




FenzoFx—Apple Inc. dipped from $250.0 and tested the ascending trendline at $233.0 as support. The Stochastic Oscillator was in oversold territory then. Hence, the price bounced from $233.0, but the bullish momentum eased in the middle band of the Bollinger indicator.

Please note that the trend outlook remains bullish as long as the Stock trades above the ascending trend line or the $233.0 support. That said, the market will likely resume its sideways momentum in the current trading session, between the $244.0 resistance and the $233.0 support.

[FxNews]

Bears Target $78,320 as Bitcoin Dips to Key Support Level





FenzoFx—Bitcoin's dip from $95,050 now nears the 78.6% Fibonacci support level at $81,900. Meanwhile, the Stochastic Oscillator %K line records show 10, and the Awesome Oscillator shifted below the signal line in the 4-hour chart. This means the downtrend and price can potentially bounce from this point; therefore, a new breakout is required for the next wave.

The immediate support is $81,900. From a technical perspective, if bears push the prices below the 78.6% Fibonacci, BTC/USD could fall toward the $78,320 mark.

[FxNews]

EUR/USD Needs to Break $1.0534 to Invalidate Bearish View




FenzoFx—The EUR/USD currency pair hit the 78.6% Fibonacci resistance level at $1.0497. Meanwhile, the Stochastic indicator is overbought, meaning the bullish wave from $1.0360 could pause in the current and next session. A dip below the 61.8% Fibonacci support level can trigger a new bearish wave, targeting the 38.2% Fibonacci at $1.0427.

Please note that the bearish outlook of the currency pair invalidates if EUR/USD exceeds $1.0534.