Insights from the Market Desk by FenzoFx.com

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EUR/USD Breaks Resistance, Bullish Momentum Continues




FenzoFx—The EUR/USD currency pair broke above $1.147 resistance, continuing its bullish path and trading around $1.1572. While indicators like Stochastic and RSI 14 signal overbought conditions, EUR/USD may consolidate and test support levels at $1.147 and $1.1296.


Traders should watch for bullish candlestick patterns at these levels, with the market outlook remaining strong as long as prices stay above $1.1296, supported by the 50-period moving average.

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Ripple Trades Sideways: What's Next?





FenzoFx—Ripple (XRP) closed and stabilized below the $1.2091 support. This downtick in momentum began after the price failed to surpass the $2.218 resistance.

The outlook of the market is bullish, but with the prices below the 50-SMA and the $1.2091 support, the downtrend could extend to the $1.9990 support zone. This zone stands between the bullish and the bearish market, making it a critical support level.

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Litecoin Analysis




FenzoFx—Litecoin slipped below $76.4 and is currently testing this level as support. With bearish momentum stemming from $80.0, the market outlook remains bearish while the price stays below this threshold.


>LTC/USD may target $71.00 next, and selling pressure could drive it further down to $64.45.
> A bullish shift would require a break above $80.0, paving the way toward $88.50 resistance.

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GBP/USD Analysis





FenzoFx—The GBP/USD pair rebounded from $1.3202 support, currently trading around $1.3277 and continuing its bullish trend.


As long as it stays above $1.3144, the next target could be $1.3435. On the flip side, a break below $1.3144 may trigger a bearish move towards $1.3030.

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NATGAS Analysis




FenzoFx—NATGAS dipped below $3.43 support on April 14 and currently trades at around $3.22. The Stochastic Oscillator indicates potential consolidation before the downtrend resumes, with $3.43 as a key resistance.

The bearish outlook holds unless NATGAS exceeds $3.66.

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Ethereum Analysis





FenzoFx—Ethereum trades sideways, unable to surpass $1,690 resistance. Currently, it hovers at $1,565, testing this level as support. The bearish trend persists below $1,755. Stabilization under $1,565 may lead to dips toward $1,470 and potentially $1,370 if selling pressure increases.

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Crude Oil Analysis




FenzoFx—Crude Oil started a bullish wave from $55.15, trading at around $62.20. Momentum slowed near $63.90 resistance. The price may dip toward $58.90 support, with further pressure potentially driving it to $55.15.

If Crude Oil surpasses $63.90, the bearish outlook invalidates, targeting $65.10 resistance.

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AUD/USD Analysis




FenzoFx—AUD/USD bullish momentum stalled at $0.6407, a strong resistance. The Stochastic Oscillator dropped below 80, signaling weakening buying pressure. Technically, AUD/USD appears overbought, suggesting a potential dip toward the $0.6276 support. A consolidation phase may emerge, so traders should watch for bullish candlestick patterns at this level.

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GBP/USD Breaks $1.3202: Bullish Market Insights





FenzoFx—The GBP/USD currency pair shows strong bullish momentum, breaking above $1.3202 yesterday. With overbought signals from the Stochastic indicator, a consolidation phase may lead to declines toward $1.3144 and $1.3030.


Traders should watch for bullish candlestick patterns near these support levels.

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EURUSD Analysis





FenzoFx—EURUSD is trading bullishly but has eased after hitting a high of $1.1470. Currently, it trades sideways near $1.1342. Despite the bullish trend, the pair is overbought and may dip below $1.1296 toward $1.1296 support.

If bulls close above $1.1470, a further rally could target $1.1710.


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