J.J. Edwards’ Expert Market Analysis at FenzoFx

[FxNews]

GBPJPY Bulls Eye 200.0 Amid Pullback​

FenzoFx—GBPJPY recently hit a higher high after breaking past 195.0 resistance but has pulled back to 194.7, approaching the 50-period SMA on the 2-hour chart.

The outlook remains bullish as long as the price holds above 193.5, with potential gains toward 200.0 resistance. However, a bearish wave could emerge if GBPJPY drops below the ascending trendline and 193.5 support, targeting 192.0.

 

[FxNews]

Bullish NATGAS Targets $4.26​

FenzoFx—NATGAS broke above the descending trendline and surpassed $4.0. Strong buying pressure pushed the Stochastic Oscillator into overbought territory, indicating Natural Gas is overpriced in the short term. The market may consolidate near the $4.0 support level.

Currently, NATGAS trades around $4.135, holding above the 50-SMA. The price action suggests a bullish trend, with the next target at the $4.26 resistance.

 

[FxNews]

AUD/USD Eyes Fibonacci Support​

FenzoFx—AUD/USD broke below the critical support at $0.626, heading toward the 78.6% Fibonacci level. The bearish trend remains intact while the price stays below the $0.6329 resistance.

 

[FxNews]

NZDUSD Falls Amid Oversold Signals​

FenzoFx—NZDUSD dropped below the $0.5678 support level and is now trading around $0.5670. Selling pressure has pushed the Stochastic Oscillator into oversold territory, recording 8.0.

The next bearish target is $0.5640, provided NZDUSD stays below the $0.5755 resistance.

 

[FxNews]

Bitcoin Eyes $84,720 After Key Support Rebound​

FenzoFx—Bitcoin rebounded from the $81,160 support level and surged past $83,520, forming higher highs. If the price stays above this key support, the bullish momentum could continue.

The next upside targets are $84,720 and $86,340. However, if Bitcoin drops below $81,160, the trend may reverse, potentially falling to $77,850.

 

[FxNews]

Ethereum Price Rebounds: Key Levels to Watch​

FenzoFx—Ethereum's downtrend stabilized at $1,755, a key support level. Currently, ETH/USD trades at $1,854, testing resistance.

A double bottom pattern on the 4-hour chart suggests potential growth if bulls secure a close above $1,860. The next target could be $1,950, supported by the 50-period moving average.

 

[FxNews]

USD/CAD Pulls Back After Hitting 1.4400​

FenzoFx— The USD/CAD pair hit 1.4400 but lost momentum, pulling back from resistance. Technically, USD/CAD may dip toward the 50-period SMA near 1.4330 before resuming its uptrend.

However, if USD/CAD drops below 1.4330, the bearish momentum may extend to the 1.4250 support, invalidating the bullish outlook.

 

[FxNews]

Litecoin Tests Key Support: Reversal or Further Drop?​

FenzoFx—Litecoin is currently testing a key support zone between $80.0 and $83.0, which previously marked its February low. The overall trend remains bearish, but this support level could trigger a price rebound, potentially shifting momentum in favor of buyers.

If Litecoin holds above $80.0, there is a possibility of a recovery toward $100.0.

However, if sellers manage to break below this critical level, the downward trend may continue, with the next target set at $75.0.

 

[FxNews]

XRP tests Key Resistance Level​

FenzoFx—Ripple (XRP) has climbed from $2.026 and is currently testing resistance at $2.218. Despite this upward movement, the overall trend remains bearish as the price stays below the 50-period simple moving average on the 4-hour chart.

The nearest support level is $2.026. If XRP/USD drops below this point, the downtrend may strengthen, potentially driving the price toward $1.90 and then $1.80.


Bullish Outlook

For the bearish trend to reverse, XRP needs to break above the immediate resistance at $2.218. If that happens, the next target could be $2.355.

 

[FxNews]

USDJPY Technical Analysis​

FenzoFx—USDJPY tested 150.25, a trading range below this level and the 50-period simple moving average. A close above 150.25 can trigger the uptrend, targeting 151.2.

Conversely, a dip below 148.2 invalidates the bullish outlook, with 148.2 as the first target and 147.43 as the secondary target.

 

[FxNews]

AUDUSD Technical Analysis​

FenzoFx—The AUD/USD pair moved upward after struggling to stay below the 78.6% Fibonacci retracement level. Currently, the price is around $0.6300, sitting above the 50-period moving average.

If AUD/USD holds above the key support at 0.626, it may climb toward the next resistance at $0.6329.

However, if the price falls below 0.626, a bearish trend could follow, potentially pushing the pair down to 0.6187.

 

[FxNews]

GBP/USD Awaits Breakout Near 1.294​

FenzoFx—The GBP/USD pair is trading near $1.294, staying close to the 50-period simple moving average as the market remains indecisive. Since March 7, price action has been confined to a narrow range.

Bullish Outlook: A push above $1.3010 could trigger further gains, with $1.3100 as the next resistance.

Bearish Scenario: A drop below $1.2865 would weaken the bullish bias, potentially leading to a decline toward $1.2800.

 

[FxNews]

SOLUSD Trades Sideways, Awaiting a Breakout​

FenzoFx—Solana trades sideways. A break below 122.7 can trigger the downtrend, targeting $112.3. However, the bearish outlook should be invalidated if Solana closes and stabilizes above 130.4.

 

[FxNews]

Crude Oil Dipped, Testing Critical Support Level​

FenzoFx—Crude oil dropped from $72.20 and is now testing the $68.8 support. The decline was expected as the Stochastic oscillator signaled overbought conditions.

If $68.8 breaks, the downtrend could extend to $67.6. However, a higher low above $70.15 would invalidate the bearish outlook, potentially pushing prices back to $72.20.

 

[VasilTodorov]

EUR/USD Needs to Break $1.0534 to Invalidate Bearish View

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FenzoFx—The EUR/USD currency pair hit the 78.6% Fibonacci resistance level at $1.0497. Meanwhile, the Stochastic indicator is overbought, meaning the bullish wave from $1.0360 could pause in the current and next session. A dip below the 61.8% Fibonacci support level can trigger a new bearish wave, targeting the 38.2% Fibonacci at $1.0427.

Please note that the bearish outlook of the currency pair invalidates if EUR/USD exceeds $1.0534.

thanks for the info. i see price is near the 78.6 fib at 1.0497. maybe it will go down if it can’t break that. stochastic looks overbought too, so bulls might be tired. if price goes under 61.8 fib, we could see a drop. i will watch 1.0534, if it breaks up, then bearish idea is gone.