Insights from the Market Desk by FenzoFx.com

[FxNews]

FenzoFx—WTI Crude Oil broke resistance at $68.9 in the last session, now trading near $70.6. This breakout supports a bullish shift. Yet, RSI 14 and Stochastic indicate overbought conditions, suggesting possible consolidation. Support at $68.9 could offer a discounted entry if prices retreat.


Watch for bullish signs like candlestick formations and inverted FVG around the $68.9 support.

[FxNews]

FenzoFx—EUR/USD bearish momentum extended to $1.154, the lower line of the flag. This is a support area backed by the Bullish FVG. The immediate resistance is at $1.157. From a technical perspective, a close above this level can trigger an uptrend, targeting the bearish FVG at approximately $1.170 to $1.175.


Please note that the bullish outlook should be invalidated if EUR/USD falls below the main support level at $1.145.

[FxNews]

FenzoFx—Litecoin rebounded from the ascending trendline, a demand zone supported by the VWAP from July 25th. At the time of writing, LTC trades near $112.4.


Immediate resistance stands at $114.3. A close above this level may resume the bullish trend, potentially targeting previous highs near $114.3.

[FxNews]

FenzoFx—Gold dipped from $3,451.0 and is now testing a bullish FVG near $3,380.0, supported by the 50-period SMA and anchored VWAP.


Immediate resistance sits at $3,389.0. A close and hold above this level may trigger a move back to $3,451.0. Conversely, a break below VWAP could extend the downtrend toward $3,337.0, backed by the ascending trendline.

[FxNews]

FenzoFx—Litecoin remains bullish above the 50-day SMA, supported by an ascending trendline. As of now, LTC trades near $113.0, retesting this area as support. A sustained hold above the trendline could initiate another bullish leg, targeting resistance at $130.3.


However, a close and stabilization below the trendline would invalidate this outlook and suggest increased selling pressure.

[FxNews]

FenzoFx—USD/JPY dipped as expected, currently testing the VWAP as support while Stochastic signals the Yen is overpriced in the short term.

Resistance is at 147.6, backed by the bearish VWAP. It is likely the pair will rise and test this level. Furthermore, a new bearish wave can potentially emerge if 147.6 holds. In this scenario, the next target could be the support at 145.8 followed by 144.2.

[FxNews]

BCH/USD: Bullish Momentum Builds Near Key Volume Zone





FenzoFx—Bitcoin Cash is testing last week's volume point of interest, with bullish long-wick candlesticks signaling buyer strength on the 4-hour chart.


As long as BCH/USD holds above the ascending trendline, the price may rise toward the bearish FVG at $539.6, then target the previous high at $553.5. If the trendline fails, downside momentum could extend to $469.1.

[FxNews]

FenzoFx—Gold remains bullish but eased at $3,419.0 resistance. The Stochastic at 85.0 suggests a pullback may follow.


Traders can watch support at $3,389.0 for short-term scalping. Swing entries may emerge near $3,351.0 if bullish signals appear, such as candlestick patterns, structure breaks, or fair value gaps. Updates will follow if price reacts to these levels.

[FxNews]

FenzoFx—Ethereum pulled back from the daily bearish FVG. The recent candle closed with a long wick and flat body, reflecting market uncertainty. Momentum indicators remain in overbought territory, signaling a possible consolidation phase.


If resistance at $3,848.0 holds, the price may decline toward support at $3,461. However, the bullish outlook stays valid as long as ETH/USD holds above $3,848.0.

[FxNews]

FenzoFx—EUR/USD is testing the 100-day moving average as resistance, a supply zone backed by VWAP at $1.171. The Stochastic Oscillator depicts 81.0 in the description, meaning the Euro is overpriced in the short term.


Therefore, we expect the pair to test the $1.160 demand zone before the uptrend resumes. Furthermore, the bullish outlook remains valid above $1.155, and a break above resistance at $1.171 can trigger the uptrend, targeting $1.179.