Insights from the Market Desk by FenzoFx.com

[FxNews]

Natural Gas: Consolidation Ahead?





FenzoFx—NATGAS made a clear bearish breakout below $3.81 and is now consolidating around this key support level. Meanwhile, the Stochastic Oscillator remains in the oversold territory, suggesting a potential consolidation phase may be approaching.

As a result, we anticipate Natural Gas prices will rise to test the $4.0 resistance before the downtrend resumes. Traders are advised to closely monitor this level for bearish signals, such as candlestick patterns.

[FxNews]

GBPUSD Downtrend Resumed




FenzoFx—GBP/USD broke below the $1.2890 support level. As of now, bulls are attempting to reclaim this level as support. The next bearish target is likely around $1.2865, while immediate resistance stands at $1.2913.

[FxNews]

Bitcoin Bullish Momentum on Pause





FenzoFx—Bitcoin trades bullishly above the ascending trendline, but the price failed to form new higher highs. The immediate resistance is at $88,650. From a technical perspective, the uptrend is likely to resume if bulls cross above this level.

Conversely, a close below the immediate support at $86,340 could result in the BTC price forming a new bearish wave, targeting $84,720.


$50 No Deposit Bonus > %100 Deposit Bonus > Swap Free > PAMM Account

[FxNews]

Silver Bullish Trend Resumed





FenzoFx—Silver surpassed the $33.60 resistance level and successfully retested it as support. The next bullish target is likely $34.24 if XAGUSD remains above the 50-period simple moving average or the $33.31 support level.

Please note that the primary trend remains bullish as long as the price stays above $32.75.


$50 No Deposit Bonus

[FxNews]

Bearish Cup and Handle Pattern in Silver





FenzoFx—Silver formed a bearish cup and handle pattern on the 4-hour chart. A new bearish wave could emerge if XAG/USD dips below $32.75, targeting $32.11.

[FxNews]

Head and Shoulders Pattern Signals Next GBP/USD Moves





FeznoFx—GBP/USD dipped from $1.2974 and formed a head and shoulders pattern on the 30-minute chart. The immediate support is at $1.2890, while the immediate resistance lies at $1.2930.


From a technical perspective, if the price falls below $1.2890, the current bearish momentum could extend to $1.2865, followed by $1.2800. Conversely, if the bulls push and stabilize the price above $1.2930, the bearish outlook would be invalidated, and the price could target $1.2956.

[FxNews]

EUR/JPY: Bullish Trend Faces Key Support Levels





FenzoFx—EUR/JPY broke above the 162.62 resistance yesterday, forming new higher highs. However, the bullish momentum eased, and the pair consolidated below the 162.62 mark, settling at approximately 162.51.


The key support for the bullish trend lies at 162.13, reinforced by the 50-period simple moving average. If this level holds, the EUR/JPY uptrend is likely to resume, targeting 163.5, followed by 164.18.


Please note that the bullish outlook would be invalidated if EUR/JPY falls below 162.13. In such a scenario, the bears could potentially test the 161.6 support level.

[FxNews]

Bitcoin Tests $87,520 Resistance Amid Overbought Signals





FenzoFx—Bitcoin is testing the $87,520.00 resistance in today's trading session, while the Stochastic Oscillator hovers in overbought territory. The primary trend should be considered bullish, as BTC is trading above the 50-period simple moving average. Therefore, the uptrend could resume and target $94,860.00 if the bulls push the price above the immediate resistance.


A break below the ascending trendline or the 50-SMA would invalidate the bullish outlook.

[FxNews]

March Lows Fuel NATGAS Bullish Push




FenzoFx—Natural Gas tested the $3.94 resistance after it bounced from March 3 lows. If NATGAS stabilizes above the resistance, the next bullish target could be $4.030.

Conversely, a close below $3.895 will invalidate the bullish outlook, with the next target at $3.81.

[FxNews]

EUR/JPY Formed a New Higher-Highs





FenzoFx—EURJPY formed new higher highs at 162.32, indicating the uptrend can potentially resume. However, we require confirmation that this is not a fake bullish break-out. Therefore, a close above the previous higher high at 162.3 can trigger the bulls, targeting 162.62.


Conversely, a break below 162.0 could trigger a bearish move, pushing the pair toward 161.6.