Insights from the Market Desk by FenzoFx.com

[FxNews]

Nasdaq's Bearish Drift: Key Levels in Focus




FenzoFx—Nasdaq's short-term trend is bearish. Friday's rally eased after the price filled the fair value gap with resistance at $23,569.00. Today, NQ displaced below the recent lows, currently trading inside the bullish FVG.

There is a relevant equal low at $23,012.00. From a technical perspective, the bearish outlook remains valid if the price holds below $23,569.00. In this scenario, we expect the market to fill the FVG with immediate support at $23,277.00.

Furthermore, if the selling pressure persists, Nasdaq could sweep the equal low by targeting the support at $22,950.00.

[FxNews]

EUR/USD Sweeps Liquidity: A Bearish Setup




FenzoFx—EUR/USD trades in a downtrend, forming lower lows. Today, during the late Asian session, the pair swept the liquidity below $1.1590.

From a technical perspective, we expect the price to consolidate from this point by filling the fair value gap, with resistance at $1.1636. In this scenario, a new bearish wave could emerge, targeting the bullish order block with support at $1.1528.

[FxNews]

NVIDIA's Double Bottom: A Bullish Setup?



FenzoFx—NVIDIA took out the liquidity below $170.60 support, forming a double bottom near this demand area. Looking at the 4-hour chart, we notice the market left two bearish fair value gaps and equal highs at $183.7.

Immediate support is at $170.6. If this level holds, we expect NVIDIA to fill the gaps, first targeting $176.00 followed by $180.00.

[FxNews]

Bitcoin Maintains Bearish Momentum




FenzoFx—Bitcoin stayed bearish, trading around $113,500.0 in today’s session. During the Asian hours, it swept liquidity above the previous day’s high and quickly dipped below $114,627.00.

The next buy-side liquidity zone lies at $111,903.00. The bearish outlook remains intact unless this level is swept.

[FxNews]

Liquidity Sweep and Bearish Setup on USD/CAD




FenzoFx—USD/CAD swept the liquidity above the 1.387 resistance, currently trading below this level. The 4-hour chart shows the pair formed a long wick bearish candlestick pattern.


The immediate support is at 1.386. From a technical perspective, a close with a bearish engulfing candlestick should be considered as a change of character. In this scenario, we expect the price to dip toward the next support level at 1.381.

[FxNews]

Litecoin Eyes Reversal from $112.5 Support




FenzoFx—Litecoin currently trades near $115.5, having swept last week's low liquidity. This level is supported by a bullish fair value gap, with key support at $112.5, offering a potential reversal point.

Immediate resistance stands at $117.4. A close above this level could trigger a bullish wave toward the next supply zone at $123.3.

[FxNews]

XRP: Key Support at $2.72 Holds Bullish Outlook




FenzoFx—XRP (Ripple) broke its bearish structure with a strong engulfing pattern on August 7 and is now consolidating near $3.00. This level is supported by a bullish order block, with immediate support at $2.90.

The 4-hour chart shows equal highs at $3.66, marking a liquidity target. Immediate resistance lies at $3.09, and a close above this level could resume the uptrend.

[FxNews]

BCH Consolidates Below $620 Highs




FenzoFx—Bitcoin Cash is consolidating after forming equal highs at $620.0. While the trend remains bullish, the current phase may push toward lower support.

Equal highs signal low liquidity, often followed by a move to lower levels before a rally. The bullish order block at $514.0 is a key discount level, offering a potential entry for buyers targeting $640.0 resistance.

[FxNews]

Bitcoin Tests Key Support at $115K




FenzoFx—Bitcoin's downtrend extended to $115,000, filling the bullish fair value gap now acting as support. The current price equals 25.0% of the previous bullish leg. If BTC closes and stabilizes below $115,000.0, the downtrend may deepen toward the $112,000.0 support order block.


Conversely, a close above $117,445.0 would invalidate the bearish outlook. This level marks the last bearish candlestick pattern and a break of structure. If confirmed, BTC/USD could recover recent losses, targeting resistance at $119,339.0.

[FxNews]

Gold: Bearish Momentum Poised to Resume




FenzoFx—Gold opened the London session by sweeping liquidity below the previous day's low and is now consolidating above the $3,342.0 support. Technically, bearish momentum is expected to resume. A break below $3,342.0 could lead XAU/USD to partially fill the bullish FVG, with support at $3,314.0.