Insights from the Market Desk by FenzoFx.com

[FxNews]

GBPJPY: Liquidity Sweep Triggers Downside




FenzoFx—GBP/JPY swept the previous day's high, forming a bearish long-wick candle with resistance at 200.2. A bearish fair value gap appeared on the 5-minute chart, signaling increased selling pressure after liquidity was swept.


Technically, GBP/JPY may first target the Asia low at 199.4. If bearish momentum continues, the move could extend to the previous day's low at 198.7. This outlook is invalidated if the pair closes above today's high at 200.3.

[FxNews]

XRP Holds Support, Eyes Break Above $3.31





FenzoFx—XRP (Ripple) holds above the fair value gap (FVG), with key support at $3.11. Technically, the uptrend may resume if XRP closes and stabilizes above $3.31, supported by a bullish FVG on lower time frames like M10 or M15.


If this scenario unfolds, the next bullish target is the order block with highs at $3.56.

[FxNews]

Litecoin Tests Bullish Order Block



FenzoFx—Litecoin is consolidating near the bullish order block, holding support at $122.1. The pair is currently moving sideways, with immediate resistance at $124.6.

Technically, the trend remains bullish as LTC forms higher highs and lows. A close above $124.6 with a fair value gap could extend the uptrend, targeting the recent high at $128.1 and potentially the March 2025 peak at $130.9.

[FxNews]

Solana's Bullish Breakout: Eyes on $228.1




FenzoFx—Solana broke the structure on July 21, and then pulled back below this level, providing discount entries. We expect the uptrend to resume and target the resistance at $228.1.


A dip toward $170.0 followed by a better price for bullish entry at $161.2 could be ideal and low risk. Monitoring these levels for candlestick patterns, break of structure in 5 minutes, and fair value gaps to confirm if there would be a bounce and continuation of the uptrend from any of these two levels.

[FxNews]

Bitcoin Pulls Back After Testing Bearish Block




FenzoFx—Bitcoin hit the bearish order block and pulled back as expected. RSI 14 dropped below the overbought zone to, signaling increased selling pressure.


Immediate support lies at $120,946. A close below this level could extend the downtrend, targeting the bullish order block at $119,000.00. No bullish setup is expected until price consolidates near discount levels at $119,000.00 and $116,560.00.

[FxNews]

Litecoin Eyes Buy Side Liquidity Shift After $124.2 Sweep




FenzoFx—Litecoin remains in a bullish channel, with the current wave originating from the order block at $115.2. LTC now trades around $121.7. Yesterday, it swept liquidity above the $124.2 resistance, signaling a potential shift toward bearish pressure. If momentum fades, price may revisit the $115.2 support zone.

However, if LTC/USD closes above $124.2, this bearish outlook is invalidated. In that case, the next target is the order block with resistance at $129.1.

[FxNews]

Oil Left Bulls Bruised and Bankrupt: A Silver Lining for Recovery



FenzoFx—Crude Oil remains bearish, taking out bulls and breaking July's low this week—an unexpected move for the month. The commodity currently trades near $65.2, aligning with its prior market structure shift from bearish to bullish, marked by a bullish engulfing on June 6.

Immediate resistance stands at July's low of $65.5. If price breaks above, Oil may begin to recover some losses. Technically, the next upside target is the order block at $67.29.

[FxNews]

Solana Surges, Yet Still Lags Behind LTC




FenzoFx—Solana targeted the primary descending trendline after it broke the structure by closing above $164.5. While LTC, which is a cryptocurrency like Solana with a price range between $100.0 and $200.0, reached its previous monthly highs, Solana still lags behind.

Currently, SOL is testing the average volume weight at approximately $173.0, in conjunction with the primary descending trendline. With the primary support at $161.2, we expect SOL/USD to resume its uptick momentum. In this scenario, the price should target the order block with peak resistance at $182.6.

[FxNews]

ETH/USD Rebounds, Faces Key Resistance




FenzoFx—Ethereum rebounded from the previous day's low, now trading near $3,639.0. This level contains an order block that triggered bearish reactions earlier this week. The trend remains bullish as price holds above the VWAP from July 1st. A close above $3,724.0 is needed to confirm continuation.


If bullish momentum holds, ETH may target $3,818.0 and $3,941.0. However, a drop below $3,546.0 would invalidate the bullish outlook. In that case, ETH/USD could revisit $3,410.0 and $3,354.0.

[FxNews]

EUR/USD Breaks Daily Lows as Consolidation Deepens




FenzoFx—EUR/USD consolidates after the impulsive bullish momentum. The uptrend initiated after the price swept below the monthly lows at $1.1400. In the current trading session, the price dipped below the previous day's low, meaning the consolidation period will likely extend to a lower support level.

The immediate resistance is at the previous day's high, the $1.159 resistance. From a technical perspective, we expect the currency pair to trade lower, near the support at $1.146, the bullish break of structure.

This level can provide a discounted price to join the dominant trend, which is bullish. We expect the Euro to rise toward $1.169 after the end of the consolidation period.