J.J. Edwards’ Expert Market Analysis at FenzoFx

[FxNews]

Ripple’s Turning Point: $2.208 in Focus​

FenzoFx—XRP faces resistance at $2.208, with the stochastic indicator nearing an overbought signal. The primary trend remains bearish below $2.213, which is likely to continue if the price dips below $2.10. In such a case, the next bearish target could be $1.90.

Conversely, if Ripple closes and stabilizes above the immediate resistance at $2.208, the bearish outlook would be invalidated. Should this scenario unfold, XRP/USD could aim for $2.40, followed by $2.544.

 

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Bitcoin’s Bullish Double-Bottom Pattern at Key Fibonacci Level​

FenzoFx—Bitcoin formed a double-bottom pattern near the 50% Fibonacci support level on the daily chart. The Awesome Oscillator signals divergence, suggesting a rise toward $95,350 is expected.

The bullish outlook should be invalidated if the crypto falls below the 50.0% Fibonacci support level.

 

[FxNews]

Bullish Wicks Point to LTC Consolidation​

FenzoFx—Litecoin struggles with the descending trendline. Meanwhile, the 4-hour chart formed a long wick bullish candlestick pattern and the Awesome Oscillator signals divergence. This indicates a consolidation phase toward higher resistance levels on the horizon.

The immediate resistance is at $93.0. From a technical perspective, the current uptick in momentum could extend to $100.0 if bulls close and stabilize above it.

 

[FxNews]

Litecoin's Next Move​

FenzoFx—Litecoin failed to surpass $93.0, resulting in a 2.3% decline in its value today. Immediate support lies at $86.0. If this level is maintained, LTC could regain its bullish trend.

However, a close below $86.0 could trigger a downtrend, with targets at $81.0 and $75.0.

 

[FxNews]

EUR/JPY Outlook: Will the Uptrend Continue?​

FenzoFx—EUR/JPY slipped below 161.2 as the Stochastic Oscillator indicated overbought conditions. However, the pair remains above the ascending trendline, signaling a continuation of the bullish primary trend.

From a technical standpoint, the uptrend is likely to persist as long as EUR/JPY stays above the trendline. Conversely, if bears manage to push the price below this level, the consolidation phase from 162.3 could extend down to 158.3.

 

[FxNews]

EUR/USD Consolidates Amid Stochastic and RSI Signals​

FenzoFx—EUR/USD began consolidating from $1.0943 (higher high) and broke below the $1.089 immediate support. This decline was anticipated due to the overbought signal indicated by the Stochastic Oscillator and the bearish divergence signal from the RSI 14.

The price is likely to test the $1.0766 level to establish a higher low. Traders should watch for bullish signals at this level, such as specific candlestick patterns. Nevertheless, the market outlook remains bullish as long as EUR/USD stays above the critical support at $1.0766.

 

[FxNews]

Ripple Faces Resistance: Key Levels and Potential Bearish Scenarios​

FenzoFx—XRP/USD tested the 61.8% Fibonacci retracement level at $2.3588 amid overbought signals indicated by the Stochastic Oscillator. This resistance area is further supported by the Fair Value Gap, suggesting that the market structure is accumulating sell orders.

The immediate support is at $2.208. A new bearish leg is likely to form if bears close below the immediate support. In this scenario, Ripple could potentially decline toward the psychological level of $2.0.

 

[FxNews]

GBP/USD Tests $1.295 Resistance: Key Fibonacci Levels​

FenzoFx—GBP/USD trades in a wedge pattern, testing the $1.295 immediate resistance. From a technical perspective, the uptrend from $1.291 could extend to the 61.8% Fibonacci retracement level, followed by the 78.6% Fibonacci retracement level, if the bullish push resumes.

A close below the immediate support at $1.2931 can trigger a downtrend in the U.S. trading session. On the other hand, a close above $1.295 should invalidate the bearish outlook.

 

[FxNews]

GBPUSD Trading Range, Awaiting a Breakout​

FenzoFx—GBP/USD is trading within a range after nearing the $1.301 mark. At the time of writing, the pair is approximately $1.293, awaiting either a bullish or bearish breakout.

The primary trend remains bullish as long as the price stays above the $1.2865 support level. However, for the uptrend to resume, bulls need to achieve a close above $1.2945 and establish stability at this level. If successful, the uptrend is likely to continue, targeting the $1.301 resistance.

Conversely, if GBP/USD drops below the immediate support at $1.2915, the consolidation phase may extend towards the next support level at $1.2865.

 

[FxNews]

Litecoin is Bearish Below $94.2​

FenzoFx—Litecoin trades sideways and couldn't surpass $94.2 resistance. If this level holds, LTC will likely dip toward $88.3.

 

[FxNews]

Bitcoin Trades Bearish Below $85,100.0​

FenzoFx—Bitcoin remained below $85,100 and tested this area as resistance three times, resulting in a shift below $83,655.00. From a technical perspective, the BTC outlook remains bearish, below the critical resistance of $85,100. Below this resistance, the price can potentially fall toward $77,850.0 support.

Conversely, a close above $85,100.0 can trigger a new bullish wave, targeting $91,400.

 

[FxNews]

Silver in Overbought With Support at $33.4​

FenzoFx—Silver's uptrend eased at $34.1. As of this writing, XAG/USD is pulling back from the $33.4 immediate support. Meanwhile, the Stochastic slipped below the overbought area, and the Awesome Oscillator histogram is red, above zero, meaning the bull market weakened.

From a technical perspective, the Silver price is overvalued in the short term, and we expect a consolidation phase toward the lower support level. In this outlook, a break below $33.4 can trigger a new bearish wave, targeting $32.75.

 

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USD/JPY: Bulls Fail to Drive Prices Higher​

FenzoFx—USD/JPY has been creating higher-lows from 146.6 support, but the uptick in momentum eased at 149.2 resistance, and bulls failed to push the prices higher.

The immediate support is at 148.3. From a technical perspective, the downtrend will likely resume if bears close and stabilize below this support. In this scenario, the next bearish target could be 147.5, followed by 146.6.

Conversely, if bulls pull the prices above the immediate resistance, the 149.2 mark, the uptick in momentum can potentially extend to a higher level. If this scenario unfolds, USD/JPY could target 150.2, followed by 151.0.

 

[FxNews]

NATGAS Failed to Break above $4.20​

FenzoFx—The natural gas prices failed to surpass $4.20. As a result, the trend returned bearish, testing the $3.99 support for the third time. This bearish push could lead to a break of the $3.99 support.

If this scenario unfolds, NATGAS will probably fall toward $3.815.

 

[FxNews]

Crude Oil Tests Key Resistance: $68.0​

FenzoFx—Crude Oil traded bullish today, testing the $68.0 resistance. The 1-hour Awesome Oscillator and price above the 50-period SMA suggest the uptrend may resume.

A close above $68.0 could target $69.2, while a drop below $67.0 may lead to a bearish trend targeting $66.4.

 

[FxNews]

USDHCF Downtrend Triggered with Stop at 0.8818 CHF​

FenzoFx—USD/CHF created new lower lows below 0.880 CHF, which could potentially lead to further losses. The critical resistance level is 0.88180 CHF.

If this level holds, USD/CHF could target the 0.8768 support.

 

[FxNews]

Ethereum formed a Head and Shoulders Pattern​

FenzoFx—Ethereum formed a head and shoulders pattern on the 1-hour chart, with immediate support at $1,885. The primary trend is bearish, as the price remains below the SMA. From a technical perspective, a close below $1,885 could trigger a new bearish wave, targeting $1,860 and subsequently $1,840.

The bearish outlook would be invalidated if the ETH price surpasses the $1,911 resistance level.

 

[FxNews]

Litecoin Rises to $87.0: New Higher Low Formation​

FenzoFx—Litecoin rose from $87.0 and formed a new higher low slightly below the 50-period SMA, meaning the primary trend should be bearish.

The immediate support is at $89.3. From a technical perspective, a new bearish wave can form if LTC closes and stabilizes below this support. In this scenario, bears could target $88.0, followed by $87.0.

Conversely, if bulls pull and stabilize the prices above $91.20 to form a new higher low, that would indicate a shift in the trend. If this scenario unfolds, LTC can potentially target $93.00.

 

[FxNews]

Solana's Bullish Momentum is on Hold​

FenzoFx—Solana began consolidating from $121.8, which resulted in the price crossing above the $125.0 active support. As of this writing, SOLUSD has tested the broken resistance but needs to close above the previous high of $126.8 for the uptrend to resume.

In this scenario, the consolidation phase could target $130.7. Please note that the bullish outlook would be invalidated if Solana's price falls below the previous lower highs at $124.3, a support level backed by the SMA 50.

 

[FxNews]

NATGAS in the Verge of a Breakout​

FenzoFx—NATGAS has been forming higher highs and lower lows after testing the $3.990 support. As of this writing, Natural Gas trades at approximately $4.148, slightly above the critical resistance level.

From a technical perspective, the current bullish momentum could lead the prices to target $4.220 if they surpass the recent higher highs at the $4.145 mark. Please note that the uptrend requires confirmation, which is the price closing above the previous high on the 5-minute chart.