Insights from the Market Desk by FenzoFx.com

[FxNews]

Nasdaq Nears ATH as Volume Diverges





FenzoFx—Nasdaq is up by 0.20% today. The majority of the gains were in the London session. As we approach the NY session, the price is getting closer to the $25,080.0 all-time high.


However, the cumulative volume profile signals caution. The indicator is making lower lows, while the price is in an uptrend. Therefore, we expect the price to dip in today's NY morning session.


In this scenario, we expect the price to close the opening gap, which rests at $25,000.0. The next support in focus is the October 2 and October 3 close price, $24,924.0. Please note that these levels can provide a discount price to plan long strategies.

[FxNews]

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[FxNews]

Gold Eyes $4,000: 3 Key Buy Levels





FenzoFx—Gold is in a strong bull market. Today, the commodity began the Asian session with a minor correction, down by 0.25%. Currently, XAU is testing the bullish fair value gap.


There exist two levels to join the bull market and target $3,977.0. The first level is $3,950.0, current price, and the second level, which is more recommended, rests near the previous day's low at $3,922.0. This level is backed by the hourly bullish fair value gap.


Please note that if the price closes and stabilizes below $3,922.0, XAU/USD could retest the broken resistance at $3,897.0. It is advisable to enter the bull market with small-size trades at these levels, targeting $4,000.0.

[FxNews]

BCH: Weak Volume Signals Pullback Risk





FenzoFx—Bitcoin Cash is trending upward after tapping $606.80 buy-side liquidity in early October. Despite higher highs, the cumulative volume profile shows lower lows, signaling weak buying interest.


The first manipulation occurred after exiting the accumulation zone (purple box), but price held above its mean threshold. A dip below $580.10 is expected to sweep liquidity. If BCH rebounds with a bullish engulfing pattern, the next target is $650.90.


However, if price closes and stabilizes below $580.10, the bullish outlook is invalidated, and BCH may drop toward equal lows at $533.40.

[FxNews]

Bitcoin Hits $124K—Volume Lags Behind





FenzoFx—Bitcoin reached a new all-time high at $124,533.0. While price broke higher, volume lags behind on the cumulative profile. The trend remains bullish, but a pullback is likely.


Retail traders should wait for BTC to dip into the liquidity void (fair value gap) around $116,000.0, offering a discounted entry into the bull market. If BTC/USD closes and stabilizes below this gap, deeper consolidation may follow toward the next support at $111,582.0.

[FxNews]

NZD/USD Downtrend Can Resume Below this Support




FenzoFx—NZD/USD started the week with a big gap. However, the gap has been filled during the Asian session. The price also tapped into 0.5838, the Friday high, and swept the buy-side liquidity above this level. The currency pair is making new higher highs and higher lows; however, the volume is decreasing. This means the current bullish momentum could be a correction.

Immediate support is at 0.5823. From a technical perspective, the downtrend could resume if the price closes and stabilizes below this level. In this scenario, the equal lows are at 0.5756. Trade safe—the key is patience.

[FxNews]

Euro/USD Rebounds Above 1.1708 After Liquidity Sweep





FenzoFx—Yesterday Euro/USD took out the sell-side liquidity below 1.1708. This low is the last three days' low. After the sweep, the price bounced above 1.1708 with a bullish engulfing candlestick, meaning bullish strengthening.


The immediate support is at 1.1700. From a technical perspective, we expect the price to attack the buy-side liquidity at 1.1779. Please note that the bullish outlook should be invalidated if the price dips below 1.1700.

[FxNews]

Gold: Bullish Volume Supports Upside Momentum





FenzoFx—Gold trades higher and broke above the $3,798.0 resistance this week. Looking at the volumes, we notice this breakout is legit because the cumulative profile also formed a new high.


Currently, the market is overbought. A dip toward $3,798.0 can profile a discount price to join the bull market, targeting $3,900.0. Traders should monitor this level closely for bullish setups.

[FxNews]

Crude Oil: Bullish Momentum Builds Above $62.13





FenzoFx—Crude Oil tapped into the liquidity below the equal lows at $62.13. However, the cumulative volume profile did not form new lower lows. This means the market could be bullish, at least in the short term.


Therefore, we expect Oil to rise higher. The immediate resistance is at $62.74. From a technical perspective, the price could target the bearish FVG with resistance at $64.84 if bulls close and stabilize the price above $62.74.

[FxNews]

NZDUSD: Downtrend May Extend Toward 0.5731 Support





FenzoFx—NZD/USD is bearish and displaced below the 0.5811 low, currently testing the bearish fair value gap with resistance at 0.5845.


Looking at the daily chart, we notice a fair value gap with support at 0.5731. From a technical perspective, we expect the downtrend to resume to this liquidity area. This is because the price is close to the fair value gap; therefore, there is a high probability for the bearish momentum to resume.


Once the fair value gap is filled, at least half of it, we expect a bullish setup with targets at equal highs, the 0.5997 high.