Insights from the Market Desk by FenzoFx.com

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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.

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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.