J.J. Edwards’ Expert Market Analysis at FenzoFx

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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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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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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.