Insights from the Market Desk by FenzoFx.com

[FxNews]

Bullish Wicks Point to LTC Consolidation




FenzoFx—Litecoin struggles with the descending trendline. Meanwhile, the 4-hour chart formed a long wick bullish candlestick pattern and the Awesome Oscillator signals divergence. This indicates a consolidation phase toward higher resistance levels on the horizon.

The immediate resistance is at $93.0. From a technical perspective, the current uptick in momentum could extend to $100.0 if bulls close and stabilize above it.

[FxNews]

Bitcoin’s Bullish Double-Bottom Pattern at Key Fibonacci Level




FenzoFx—Bitcoin formed a double-bottom pattern near the 50% Fibonacci support level on the daily chart. The Awesome Oscillator signals divergence, suggesting a rise toward $95,350 is expected.

The bullish outlook should be invalidated if the crypto falls below the 50.0% Fibonacci support level.

[FxNews]

Ripple’s Turning Point: $2.208 in Focus





FenzoFx—XRP faces resistance at $2.208, with the stochastic indicator nearing an overbought signal. The primary trend remains bearish below $2.213, which is likely to continue if the price dips below $2.10. In such a case, the next bearish target could be $1.90.

Conversely, if Ripple closes and stabilizes above the immediate resistance at $2.208, the bearish outlook would be invalidated. Should this scenario unfold, XRP/USD could aim for $2.40, followed by $2.544.

[FxNews]

USD/CHF: Resistance Met, Downtrend Looms




FenzoFx—USD/CHF rose to the 0.8914 CHF resistance as expected, due to the Stochastic Oscillator being in oversold territory. At the time of writing, the currency pair is trading slightly below this resistance, with the Stochastic signaling overbought. This suggests that the USD/CHF downtrend could potentially be triggered from this point.


Immediate support is at 0.880. A dip below this level could trigger the downtrend, targeting 0.8739. However, please note that the bearish outlook would be invalidated if USD/CHF breaks above the 0.8914 resistance.

[FxNews]

Gold Rebounds: Bullish Momentum Targets $2,930





Yesterday, Gold broke below the $2,892 support level but unexpectedly reversed upward, currently trading at approximately $2,910. The latest bar of the Awesome Oscillator has turned green, suggesting that the current bullish momentum may resume.

In this scenario, $2,930 could be the next target for buyers. Furthermore, a break above $2,930 could ignite a new rally, with $2,955 as the subsequent target. Please note that the bullish outlook would be invalidated if XAU/USD closes and stabilizes below the immediate support level at $2,893.

[FxNews]

NATGAS Consolidates; $4.60 Break Could Spark Rally




FenzoFx—NATGAS started consolidating after it peaked at $4.95, trading slightly below the $4.60 resistance. As long as the price is above the ascending trendline, the trend outlook should be considered bullish.

Cold weather is forecasted for North America. That being said, a close above $4.60 could spark a new bullish wave targeting $4.95. Please note that the bullish outlook should be invalidated if NATGAS falls below the ascending trendline.

[FxNews]

USDCHF Downtrend Pauses at Key Fibonacci Support




FenzoFx—USDCHF trades bearish, but the downtrend eased at the %50.0 Fibonacci support level. Meanwhile, the stochastic oscillator stepped outside the oversold territory, strengthening bullish momentum. The Awesome Oscillator bars also turned green but below zero, indicating the market can consolidate near the upper resistance levels.

The immediate resistance is at 0.8858 CHF. From a technical perspective, if the $50.0 Fibonacci support level holds, USD/CHF will likely test this level. Traders and investors should monitor 0.8858 support for bearish signals, such as candlestick patterns.

Please note that the bearish outlook should be invalidated if USD/CHF exceeds 0.8858. If this scenario unfolds, the currency pair will likely test 0.8914 resistance.

[FxNews]

Ripple Tests Resistance: Will XRP Hit $2.544 Next?





FenzoFx—XRP tested the February 25 low at 1.9530 as support and bounced from it as expected. At the time, the Stochastic and RSI 14 were signaling overbought. As of this writing, Ripple trades at approximately $2.117.

The immediate resistance is at $2.208. From a technical perspective, a new bullish wave will likely form if XRP closes and stabilizes above this resistance. In this scenario, Ripple could rise toward $2.40, followed by $2.544.

Please note that the bullish scenario should be invalidated if XRP/USD dips below $1.9530.

[FxNews]

GBP/JPY Downtrend: 188.0 in Sight?





FenzoFx—GBP/JPY is in a bear market, testing the 189.0 mark as support. Meanwhile, the Awesome Oscillator has shifted below the signal line, indicating that the downtrend should prevail. The primary support is at 189.6. From a technical perspective, a downtrend will likely target 188.0 if GBP/JPY closes below the immediate support.


Conversely, if bulls maintain their position above 189.0 and stabilize above the 38.2% Fibonacci resistance level, a new bullish wave could potentially form, targeting 192.9.

[FxNews]

Bitcoin Finds Support in Bear Market




FenzoFx—Bitcoin traded in a bear market at approximately $83,200 in today's trading session. The Stochastic oscillator stepped away from oversold territory, meaning the downtrend has eased. The immediate resistance is at the 61.8% Fibonacci level, the $84,650 mark.

From a technical perspective, a close above this level can trigger a new bullish wave, targeting the 38.2% Fibonacci at $88,670. Conversely, the bullish outlook should be invalidated if BTC falls below $81,800.