Insights from the Market Desk by FenzoFx.com

[FxNews]

NZDUSD Formed a Double Bottom Pattern: What's Next?​





FenzoFx—The NZD/USD pair formed a double bottom pattern at the $0.5710 support. The trend remains bearish, with the price below the 50-period SMA. The downtrend will stay intact unless the pair breaks above the $0.575 resistance.


For bears to regain control, the price must close below $0.5710, targeting the next support at $0.5678.

[FxNews]

SOL/USD Downtrend Escalated





FenzoFx—Solana broke the $135.0 support as expected. The double top pattern signaled this possibility in the 30-minute chart. As of this writing, SOL/USD is bouncing to test the broken support.


The market outlook remains bearish as long as it trades below $140.0, and the next target could be $130.0.

[FxNews]

Solana’s Double Bottom: Key Levels to Watch




FenzoFx—Solana has formed a double-bottom pattern with a key support level at $135.9. From a technical perspective, a bullish push above the immediate resistance at $140.0 could potentially drive prices toward the next resistance zone at approximately $145.5.

Conversely, a break below $135.9 could trigger a downtrend, targeting $130.0.

[FxNews]

Natural Gas: Consolidation Ahead?





FenzoFx—NATGAS made a clear bearish breakout below $3.81 and is now consolidating around this key support level. Meanwhile, the Stochastic Oscillator remains in the oversold territory, suggesting a potential consolidation phase may be approaching.

As a result, we anticipate Natural Gas prices will rise to test the $4.0 resistance before the downtrend resumes. Traders are advised to closely monitor this level for bearish signals, such as candlestick patterns.

[FxNews]

GBPUSD Downtrend Resumed




FenzoFx—GBP/USD broke below the $1.2890 support level. As of now, bulls are attempting to reclaim this level as support. The next bearish target is likely around $1.2865, while immediate resistance stands at $1.2913.

[FxNews]

Bitcoin Bullish Momentum on Pause





FenzoFx—Bitcoin trades bullishly above the ascending trendline, but the price failed to form new higher highs. The immediate resistance is at $88,650. From a technical perspective, the uptrend is likely to resume if bulls cross above this level.

Conversely, a close below the immediate support at $86,340 could result in the BTC price forming a new bearish wave, targeting $84,720.


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[FxNews]

Silver Bullish Trend Resumed





FenzoFx—Silver surpassed the $33.60 resistance level and successfully retested it as support. The next bullish target is likely $34.24 if XAGUSD remains above the 50-period simple moving average or the $33.31 support level.

Please note that the primary trend remains bullish as long as the price stays above $32.75.


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[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.