Insights from the Market Desk by FenzoFx.com

[FxNews]

AUDUSD Retreats as Overbought Signals Spark Bearish Outlook




FenzoFx—The AUDUSD bullish run hit the 78.6% Fibonacci resistance level at $0.636 amid an overbought signal by the Stochastic Oscillator. As a result, the pair dipped below $0.6329, active resistance. From a technical perspective, if the $0.6329 resistance holds, the current bearish momentum could extend to $0.6272. Furthermore, if the selling pressure exceeds $0.6272, the 23.6% Fibonacci support level will likely be targeted.

[FxNews]

Ethereum Bullish Rally Faces Key Resistance at $2,300





FenzoFx—Ethereum trades bullish from $1,990.0, currently testing the descending trendline as a resistance level at approximately $2,300.0. Meanwhile, the Stochastic oscillator hints at an overbought market, meaning the cryptocurrency could consolidate or turn bearish.

The immediate support is at $2,170.0. From a technical perspective, a break below this level can trigger a new bearish wave, targeting the March 4 low at $1,990.0.

On the other hand, the bullish wave from $1,990.0 could extend to $2,550.0 if ETH/USD exceeds Bollinger's upper band.

[FxNews]

Warmer Weather Forecast Weighs on NATGAS Bearish Momentum



FenzoFx—NATGAS trades sideways while investors look for a breakout. Warmer weather is forecasted for the upcoming week. Considering the Stochastic signals are overbought in the 4-hour chart, a break below $4.28 can trigger a new bearish wave, targeting $4.10.

Please note that the bearish outlook should be invalidated if the Natural Gas price exceeds $4.60.

[FxNews]

Solana Tests $151.5 Resistance with Growing Momentum




FenzoFx—Solana formed a head-and-shoulders pattern in the 4-hour chart and is currently testing the 151.5 resistance level. Meanwhile, the RSI 14 hovers above the median line, and the Stochastic oscillator depicts 61 in the description.

This means the market is not overbought, and the current uptick in momentum can extend to a higher resistance level. That said, the immediate resistance is at 151.5. From a technical perspective, the current uptick in momentum can target the 179.5 mark if bulls close and stabilize the price above the immediate resistance.

Conversely, a break below the immediate support at $140.0 will likely trigger the downtrend, which targets $126.5.

[FxNews]

USD/CHF: Oversold Indicators Hint at Potential Rebound





FenzoFx—USD/CHF is up by 0.04% in today's trading session, trading at approximately 0.889. The primary trend is bearish; however, Stochastic and RSI 14 indicators. The record shows 15.0 and 37.0 in the description, meaning the market is oversold, and correction toward the upper resistance level could be imminent.

That said, the immediate resistance is at 0.891. From a technical perspective, the current bullish momentum can extend if bulls close and stabilize above the 0.891 mark. If this scenario plays out, the middle band of the Bollinger could be the next bullish target.

[FxNews]

XRP's Recovery: Signs of a Bullish Momentum Ahead





FenzoFx—The XRP downfall from $3.0 paused at $2.208 and began a mild bullish wave from $2.208. As of this writing, Ripple (XRP) trades at approximately $2.45, while the Awesome and the Stochastic oscillators are rising, signaling that bullish momentum should resume. The immediate resistance is at $2.544. Interestingly, the 4-hour chart formed a 'long upper shadow' candlestick pattern, indicating bears' power.

From a technical perspective, bulls must close and stabilize above $2.544 for the uptrend to continue. If this scenario unfolds, the 78.6% Fibonacci resistance level at $2.776 could be the next bullish target.

On the other hand, if $2.544 holds, XRP will likely retest the ascending trendline, followed by $2.208 as support.

[FxNews]

Apple Trades Sideways but Outlook Remains Bullish




FenzoFx—Apple Inc. dipped from $250.0 and tested the ascending trendline at $233.0 as support. The Stochastic Oscillator was in oversold territory then. Hence, the price bounced from $233.0, but the bullish momentum eased in the middle band of the Bollinger indicator.

Please note that the trend outlook remains bullish as long as the Stock trades above the ascending trend line or the $233.0 support. That said, the market will likely resume its sideways momentum in the current trading session, between the $244.0 resistance and the $233.0 support.

[FxNews]

Bears Target $78,320 as Bitcoin Dips to Key Support Level





FenzoFx—Bitcoin's dip from $95,050 now nears the 78.6% Fibonacci support level at $81,900. Meanwhile, the Stochastic Oscillator %K line records show 10, and the Awesome Oscillator shifted below the signal line in the 4-hour chart. This means the downtrend and price can potentially bounce from this point; therefore, a new breakout is required for the next wave.

The immediate support is $81,900. From a technical perspective, if bears push the prices below the 78.6% Fibonacci, BTC/USD could fall toward the $78,320 mark.

[FxNews]

EUR/USD Needs to Break $1.0534 to Invalidate Bearish View




FenzoFx—The EUR/USD currency pair hit the 78.6% Fibonacci resistance level at $1.0497. Meanwhile, the Stochastic indicator is overbought, meaning the bullish wave from $1.0360 could pause in the current and next session. A dip below the 61.8% Fibonacci support level can trigger a new bearish wave, targeting the 38.2% Fibonacci at $1.0427.

Please note that the bearish outlook of the currency pair invalidates if EUR/USD exceeds $1.0534.