Insights from the Market Desk by FenzoFx.com

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Bullish Bitcoin Find Resistance




FenzoFx—Bitcoin remains bullish above the 50-period simple moving average but lost momentum near the $95,995 resistance. It currently trades around $94,650. A breakout above $95,995 could trigger a move toward $99,560. Conversely, a close below $92,875 may lead to a drop toward $91,720, with further downside potential to $88,830 if selling pressure intensifies.


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Crude Oil Analysis




FenzoFx—Crude oil trades sideways at approximately $63.0, slightly above the 50-period simple moving average. This indicates that the market is bullish. Immediate support is located at $61.75. The market outlook remains bullish as long as black gold trades above this level. In this scenario, the immediate resistance at $65.1 could be retested.


Bearish Scenario: The bullish outlook would be invalidated if crude oil dips below the immediate support. If this occurs, the next bearish target could be the support level at $58.90.

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Ethereum Trades Sideways: Bulls Need a Push



FenzoFx—Ethereum is trading sideways but remains above the 50-period simple moving average, signaling a bullish market. ETH is currently priced around $1,785. A close above $1,835 could trigger a move toward the $1,950 resistance.

Bearish Scenario: If Ethereum falls below $1,690, supported by the 50-period simple moving average (4-hour chart), it could decline toward the $1,565 support level.

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Bitcoin Walks into a Robust Resistance Zone




FenzoFx—Bitcoin remains bullish above the 50-period simple moving average at around $93,950. A doji candlestick on the daily chart signals potential consolidation or a bearish move.


Resistance spans from $94,990 to $99,420, suggesting a possible reversal. We recommend waiting for Bitcoin’s reaction before planning a strategy.

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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.