J.J. Edwards’ Market Analysis at FenzoFx

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EUR/USD Resumes Bearish Trend Below $1.176​

FenzoFx—EUR/USD trades bearish, below the 100-SMA, and is currently testing the bullish FVG as support. Yesterday, Euro failed to pass the immediate resistance at $1.176; therefore, we expect the bearish bias to resume.

In this scenario, EUR/USD's downtrend could extend to the next support level at $1.151. Please note that the bearish outlook should be invalidated if Euro closes and stabilizes above $1.176.

 

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Unique Bearish Setup Emerges for AUD/JPY This Quarter​

FenzoFx—AUD/JPY is bullish, currently testing the critical resistance and order block at 97.3. This level coincides with the VWAP and volume profile point of interest. Bears are interested in adding short positions at the 97.3 price level.

Since this level is highly important and has the potential to change the trend, it is necessary to form a double top at this price, which has not happened before.

From a technical perspective, if a double top pattern forms at 97.3 and this level holds, a new bearish trend will likely emerge. In this scenario, the 93.9 level is likely to be targeted.

 

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Ethereum Analysis​

FenzoFx—Ethereum is bullish, but the uptrend eased near monthly highs. Support is at $3,363.0. A break below this level may trigger a consolidation phase toward 50.0% of the previous range.

 

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XRP Retests Previous All-Time High as Bullish Setup Develops​

FenzoFx—XRP (Ripple) is tested and has stayed above $3.40, the previous all-time high. This level acts as support, backed by the VWAP from Thursday's low and the bullish FVG.

If this level holds, we expect the cryptocurrency to aim higher, targeting $3.60, followed by $3.66.

 

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NZD/USD: Market Structure Shifts in Favor of Bulls​

FenzoFx—NZD/USD broke above the 0.597 immediate resistance, signaling a market structure shift. We expect the uptick in momentum to resume toward the middle line of the bullish channel.

However, for a low-risk entry, waiting for the price to near the FVG at 0.595 is recommended.

 

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Solana Pullback May Offer Discounted Bull Entry​

FenzoFx—Solana exceeded the previous month's high at 187.7, while momentum indicators warn of an overbought market. The trend is bullish, but we expect a consolidation toward $168.6. This level can offer a discount price to join the bull market.

 

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Bullish Momentum Builds Above $1.3475 for GBP/USD​

FenzoFx—GBP/USD is testing the descending trendline as resistance. The primary trend is bullish, and if bulls close and stabilize above $1.3475, the uptrend will likely resume.

If this scenario unfolds, the next bullish target could be the resistance at $1.3525. Please note that the bullish outlook should be invalidated if GBP/USD closes and stabilizes below $1.3369.

 

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USD/JPY Faces Rejection at 148.6, Bearish Setup Emerges​

FenzoFx—USD/JPY began a bearish wave after the 148.6 resistance rejected the price. As of this writing, the currency pair flipped below the ascending trendline and formed a bearish FVG at 147.9.

A pullback toward the FVG can provide a premium price to go short on USD/JPY, targeting 146.9, followed by 145.7.

 

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Oil Bulls Watch $67.0 for Breakout Confirmation​

FenzoFx—Crude Oil trades slightly above the bullish FVG at $66.5, showing sideways momentum on the 1-hour chart. The $65.5 support is backed by volume interest and could drive prices higher.

If this level holds, bulls may target a retest of the descending trendline. For confirmation, a close above the $67.0 resistance is needed.

Please note that a close below $66.5 would invalidate the bullish outlook.

 

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EUR/USD Eyes $1.179 If Resistance Breaks​

FenzoFx—EUR/USD is testing the 100-day moving average as resistance, a supply zone backed by VWAP at $1.171. The Stochastic Oscillator depicts 81.0 in the description, meaning the Euro is overpriced in the short term.

Therefore, we expect the pair to test the $1.160 demand zone before the uptrend resumes. Furthermore, the bullish outlook remains valid above $1.155, and a break above resistance at $1.171 can trigger the uptrend, targeting $1.179.

 

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ETH Eyes Consolidation from Overbought Zone​

FenzoFx—Ethereum pulled back from the daily bearish FVG. The recent candle closed with a long wick and flat body, reflecting market uncertainty. Momentum indicators remain in overbought territory, signaling a possible consolidation phase.

If resistance at $3,848.0 holds, the price may decline toward support at $3,461. However, the bullish outlook stays valid as long as ETH/USD holds above $3,848.0.

 

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Eye These Levels to Go Long on Gold​

FenzoFx—Gold remains bullish but eased at $3,419.0 resistance. The Stochastic at 85.0 suggests a pullback may follow.

Traders can watch support at $3,389.0 for short-term scalping. Swing entries may emerge near $3,351.0 if bullish signals appear, such as candlestick patterns, structure breaks, or fair value gaps. Updates will follow if price reacts to these levels.

 

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BCH/USD: Bullish Momentum Builds Near Key Volume Zone​

FenzoFx—Bitcoin Cash is testing last week's volume point of interest, with bullish long-wick candlesticks signaling buyer strength on the 4-hour chart.

As long as BCH/USD holds above the ascending trendline, the price may rise toward the bearish FVG at $539.6, then target the previous high at $553.5. If the trendline fails, downside momentum could extend to $469.1

 

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USD/JPY: Bearish Setup Looms Below VWAP Zone​

FenzoFx—USD/JPY dipped as expected, currently testing the VWAP as support while Stochastic signals the Yen is overpriced in the short term.

Resistance is at 147.6, backed by the bearish VWAP. It is likely the pair will rise and test this level. Furthermore, a new bearish wave can potentially emerge if 147.6 holds. In this scenario, the next target could be the support at 145.8 followed by 144.2.

 

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Litecoin Retests $112.3 Support Amid Bullish Momentum​

FenzoFx—Litecoin remains bullish above the 50-day SMA, supported by an ascending trendline. As of now, LTC trades near $113.0, retesting this area as support. A sustained hold above the trendline could initiate another bullish leg, targeting resistance at $130.3.

However, a close and stabilization below the trendline would invalidate this outlook and suggest increased selling pressure.

 

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Gold Tests Bullish Zone Near $3,380.0​

FenzoFx—Gold dipped from $3,451.0 and is now testing a bullish FVG near $3,380.0, supported by the 50-period SMA and anchored VWAP.

Immediate resistance sits at $3,389.0. A close and hold above this level may trigger a move back to $3,451.0. Conversely, a break below VWAP could extend the downtrend toward $3,337.0, backed by the ascending trendline.

 

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Litecoin Rebounds Off Trendline in Bullish Continuation Setup​

FenzoFx—Litecoin rebounded from the ascending trendline, a demand zone supported by the VWAP from July 25th. At the time of writing, LTC trades near $112.4.

Immediate resistance stands at $114.3. A close above this level may resume the bullish trend, potentially targeting previous highs near $114.3.

 

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Bitcoin: The Key Buying Level Near $112K Liquidity Zone​

FenzoFx—Bitcoin consolidation extended into the bullish FVG, trading near $115,470.0. The 4-hour chart shows an indecisive candle, while the 200-day MA points upward, signaling bullish control. This dip may attract bids to join the broader uptrend.

The bullish outlook remains intact if price holds above the critical $112,000.0 support. However, current bearish momentum may drag price toward this level, potentially filling nearby FVGs.

Traders should monitor $112,000.0 for bullish setups, including break of structure and long-wick bullish candles.

 

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XRP Confronts Daily SMA Resistance​

FenzoFx—XRP remains bearish, trading below the 50-period daily SMA at around $3.18. The SMA acts as resistance. Immediate support lies at $2.96. A break below this level may trigger further downside toward the $2.66 demand zone.

On the upside, a close and stabilization above $3.27 would invalidate the bearish outlook. In that case, momentum could push prices toward the previous highs at $3.65.

 

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Gold: $3,348.0 Resistance in Focus for Bulls​

FenzoFx—Gold's decline reached the ascending trendline near $3,314.0. The bullish trend remains intact while price holds above the trendline.

Immediate resistance is $3,348.0, and a close above this level could lift the market toward $3,389.0 and potentially $3,451.0, aligning with recent higher-lows.