Insights from the Market Desk by FenzoFx.com

[FxNews]

Gold's Accumulation Pays Off: $4,379 in Sight





FenzoFx—Gold bounced from $3,886.00 and accumulated around this range for 8 trading sessions. This was a bullish accumulation which resulted in Gold's price breaking out from the range in yesterday's session.


Support is at $4,050.00. If this level holds, we expect Gold to target the liquidity void with resistance at $4,200.00 for profit taking. Furthermore, if the price breaks above $4,200.00, it will likely aim for the all-time high, the $4,379.00 mark. This level has equal lows, meaning stops are resting above it.

[FxNews]

Ethereum Accumulates Near $3,170 Support





FenzoFx—Ethereum is down 0.66% today, trading near $3,540.00 inside the liquidity void from October 10. Immediate support lies at $3,170.00, a level respected for 4 days on the daily chart. This accumulation may signal a potential move higher.


In this scenario, ETH/USD could rise toward $3,836.00 before resuming its downtrend. A break below $3,170.00 would likely trigger a decline toward $2,880.00. The bearish outlook remains valid as long as the daily chart fails to print new higher highs.

[FxNews]

BCH Correction Within Bearish Structure





FenzoFx—Bitcoin Cash remains above the ascending trendline and $446.60 support. The price has entered the inverted fair value gap, which may act as strong resistance and cap further upside. The primary trend is bearish below $576.00, and current bullish momentum is likely corrective.


BCH could rise toward $541.30 before resuming its downtrend. If bearish pressure returns, the next target is $427.00. The ascending trendline has been tested five times, making it fragile. A close above $576.00 would invalidate the bearish outlook. Key levels to monitor for bearish setups are $541.30 and $576.70.

[FxNews]

GBP/JPY: Bullish Void Supports Pullback Scenario





FenzoFx—GBP/JPY resumed its uptrend after filling 75% of the daily opening gap on November 5, now trading inside the bearish fair value gap with resistance at 203.10 and 203.50. A bullish liquidity void at 201.30 suggests a potential pullback before further upside. This zone offers a discount entry into the bull market.


Technically, the pair is overbought, and going long now carries high risk. A correction toward 201.90 and 201.30 is preferred before considering upside targets. If buying pressure persists, GBP/JPY could tap liquidity above 204.20 and extend toward 205.30.

[FxNews]

Bitcoin Correction Eyes $108,800





FenzoFx—Bitcoin rebounded from $99,300.00 and is now trading near $106,000.00. This upward move is likely a corrective phase, with potential to fill the liquidity void up to $108,800.00.


The equal lows at $99,326.00 remain vulnerable after repeated tests. We expect the downtrend to resume once BTC reaches the bearish fair value gap near $108,000.00. If confirmed, the next bearish targets are $100,000.00 and $90,000.00. The bearish outlook remains intact as long as the price stays below $116,576.00.

[FxNews]

Ethereum Bear Flag Below $3,510





FenzoFx—Ethereum remains below the $3,510.00 resistance and descending trendline, consolidating near $3,237.00 in a bear flag. The November 4 drop created a liquidity void with resistance at $3,673.00.


As long as ETH trades below this level, the bearish outlook holds. A breakdown could retest support at $3,040.00, and if selling pressure continues, the decline may extend toward the next liquidity void at $2,771.00.

[FxNews]

Gold Bearish Scenario Explained





FenzoFx—Gold dipped below the descending trendline. However, it hasn't closed below the immediate support at $3,935.00. From a technical perspective, the break below the trendline will be confirmed if the price closes below $3,925.00 in the 4H chart.


If this scenario unfolds, the dip can extend to $3,890.00. Furthermore, if the selling pressure persists, the next support level will be $3,820.00.

[FxNews]

BTC Correction Possible Before Further Drop





FenzoFx—Bitcoin continues its downtrend after dipping below the bearish fair value gap, now trading around $104,150.00. Immediate support sits at $103,400.00. A daily close below this level could trigger further downside, with thin liquidity below.


Technically, a correction may occur first, potentially pushing BTC toward $108,800.00 before resuming the decline. If $103,400.00 is breached, the next support levels are $100,000.00 and $98,000.00.

[FxNews]

XRP Eyes $2.072 if Support Breaks





FenzoFx—XRP is down 3.30% today, trading around $2.2330. Immediate support lies at $2.2230, backed by the anchored VWAP. So far, the price hasn’t closed below this level on the daily chart.


Technically, a close beneath VWAP could trigger further downside toward $2.072. If selling pressure continues, the next support is $1.922. The market outlook remains bearish while XRP trades below the descending trendline.

[FxNews]

Gold Awaits Breakout or Breakdown





FenzoFx—Gold's upside momentum has been capped by the $4,050.00 resistance, backed by the anchored VWAP from October 23. The immediate support rests at the recent lower high, the $3,971.00 mark.


From a technical perspective, a close below the immediate support could trigger the downtrend, retesting the lows at $3,901.00. On the flip side, if the price closes above $4,050.00, the current uptick in momentum could extend to the upper line of the bearish channel, followed by $4,175.00.