Insights from the Market Desk by FenzoFx.com

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GBP/USD Analysis





FenzoFx—GBP/USD fell from $1.3435, testing the 50-period simple moving average near $1.3276. The Stochastic Oscillator is nearing the 20 level, suggesting the US dollar is overbought in the short term. Support lies at $1.3202. The outlook remains bullish while above this level, though a close above $1.3295 is needed to confirm upward momentum. A retest of $1.3435 could follow.


Bearish Scenario: A drop below $1.3202 would invalidate the bullish view, potentially extending the decline to $1.3144 or even $1.3030 under sustained selling pressure.

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EUR/USD Analysis




FenzoFx—EUR/USD declined from $1.1571, as anticipated, due to overbought signals from the Stochastic and RSI 14 indicators. The pair now trades below the 50-period simple moving average, near $1.1350.

The Stochastic Oscillator has dropped below 20, suggesting the U.S. dollar is overvalued short-term. As long as the price remains above the $1.1259 support, the bullish outlook holds. Potential upside targets include $1.147 and $1.1571.

Bearish Scenario: If the price falls below $1.1259, bearish momentum may drive EUR/USD toward the next support at $1.1146.

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Crude Oil Tests Critical Support Level at $65.10




FenzoFx—Crude Oil is consolidating below the $65.10 resistance, trading around $64.30. The price remains above the 50-period SMA on the 4-hour chart, confirming a bullish trend. However, the Stochastic Oscillator crossing above 20 signals overbought conditions, suggesting a potential pullback.

If oil stays below $65.10, a bearish wave could follow, targeting $62.31 and then $61.75.

Bullish Scenario: A close and stabilization above $65.10 could trigger the uptrend, targeting $67.60.

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AUD/USD is Bullish: More Gains Ahead?




FenzoFx—The AUD/USD pair rebounded from the $0.6363 support level, aided by the 50-period simple moving average, and is currently trading near $0.6413. Resistance stands at $0.6444. A close above this level may extend the bullish move toward $0.6940 and $0.7200.


Bearish Scenario: A drop below $0.6363 would invalidate the bullish outlook, potentially triggering a decline toward $0.6322.

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Litecoin Up by 3.5%: What’s Next?



FenzoFx—Litecoin is trading above the 50-period SMA, gaining 3.5% to around $79.35 after briefly testing the $82.00 resistance. As long as LTC stays above $77.40, the trend remains bullish, with potential retests of $82.00 and a target of $88.50 if buying pressure continues.

Bearish Scenario: A close below $77.40 could trigger a decline toward $75.20.

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Bitcoin




FenzoFx—Bitcoin broke above $82,140 resistance, now trading near $86,800 after a 1% correction. The bullish trend persists, with support at $86,140 potentially enabling a rebound toward $89,000.


A drop below support could lead to declines to $84,000 or $82,811.

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Crude Oil





FenzoFx—Crude Oil is consolidating after testing the $63.9 resistance and is trading around $62.23, supported by the 50.0% Fibonacci retracement. Indicators show a bullish trend, with the price above the 50-period SMA on the 4-hour chart, and the Stochastic Oscillator dipping below 20, indicating oversold conditions. A rebound is possible if Oil stays above $62.00, with a target of $64.00.


Bearish Scenario: The bullish outlook is invalidated if the price drops below $62.00. In this case, momentum could extend toward $60.77, aligned with the 78.6% Fibonacci retracement level.

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AUD/USD Secures Bullish Momentum Above $0.6407




FenzoFx—AUD/USD closed above $0.6407 and remains stable, signaling a bullish trend supported by the 50-period simple moving average. However, indicators like Stochastic and RSI 14 suggest an overbought condition, hinting at a possible correction. Key support lies at $0.6395, with traders watching for bullish signals such as candlestick patterns.


The outlook stays bullish above $0.6276, while dips below this level could trigger extended consolidation.

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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.

Forex Contest

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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.