Insights from the Market Desk by FenzoFx.com

[FxNews]

AUD/USD Consolidates: Liquidity Sweep in Focus




FenzoFx—AUD/USD trades sideways between the order block with support at $0.641, and the bearish FVG with resistance at $0.649. The pair remains bearish during the long session, failing to break above the resistance. The critical order block with support at $0.637 remained intact. This level is the previous monthly low, which hasn't been tested yet.

Market is keen to move from one liquidity zone to another. Since the monthly lows at $0.637 haven't been taken out, we expect the current downtick in momentum to extend to $0.637. Please note that the bearish outlook should be invalidated if AUD/USD closes at or above $0.649.

A trading hint: We suggest avoiding trading this pair until the price either breaks above the $0.649 resistance or bounces from the support at $0.637.

[FxNews]

Gold: Key Support Zone Holds Bullish Potential




FenzoFx—Gold turned bullish after testing the order block at $3,267.0. Stochastic is overbought, suggesting possible consolidation. The bullish candle on August 1st created a fair value gap and broke structure, but no discount entry has formed yet.

Immediate support lies at $3,324, backed by weekly VWAP, FVG, and volume point of interest. Traders should wait for price to revisit this zone for a bullish setup. If support holds, momentum could push gold to $3,395.0. The setup offers a favorable risk-to-reward ratio of at least 1 to 6.

[FxNews]

Bitcoin Cash Breaks Structure with Bullish Momentum




FenzoFx—Bitcoin Cash remains bullish, trading back above the VWAP from July 24 near $582.9. Today’s breakout above $572.6 featured a strong bullish engulfing pattern, leaving a fair value gap now under test.


The outlook favors revisiting the $607.0 high, and with the trend still positive, it’s advisable to leave a runner open. A further rally toward $630.0 remains likely if momentum persists.

[FxNews]

Nasdaq Finds Support at $23,305.0





FenzoFx—Nasdaq dipped yesterday and formed a bearish FVG. However, the selling pressure eased as soon as the price tested the ascending trendline. The last day's low at $23,305.0 is the immediate support. That said, a close above the immediate resistance at $23,375.0 can trigger the uptrend, targeting the highs at $23,535.0.

[FxNews]

Gold Holds Trendline Amid Rising Momentum




FenzoFx—Gold remains above the ascending trendline, trading around $3,386.0. Technical indicators like RSI 14 and Stochastic show rising momentum, reinforcing the bullish bias. Immediate support lies at $3,347.0. If this holds, XAU/USD may climb toward the monthly VWAP at $3,412.0.

The bullish outlook is invalidated if Gold closes below $3,347.0, which opens the door for further downside toward the next support at $3,307.7.

[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.