J.J. Edwards’ Expert Market Analysis at FenzoFx

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GBPJPY: Liquidity Sweep Triggers Downside 

FenzoFx—GBP/JPY swept the previous day's high, forming a bearish long-wick candle with resistance at 200.2.  A bearish fair value gap appeared on the 5-minute chart, signaling increased selling pressure after liquidity was swept. 

Technically, GBP/JPY may first target the Asia low at 199.4. If bearish momentum continues, the move could extend to the previous day's low at 198.7. This outlook is invalidated if the pair closes above today's high at 200.3.

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Gold: Bearish Momentum Poised to Resume

FenzoFx—Gold opened the London session by sweeping liquidity below the previous day's low and is now consolidating above the $3,342.0 support. 

Technically, bearish momentum is expected to resume. A break below $3,342.0 could lead XAU/USD to partially fill the bullish FVG, with support at $3,314.0.

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Bitcoin Cash: Bearish Setup Awaits Liquidity Sweep

FenzoFx—Bitcoin Cash continues its bullish momentum, currently trading around $609.5. The uptrend is expected to persist, with BCH targeting the December 2024 high of $640.0.  Once liquidity above this level is cleared, bearish setups may will likely come into play.

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Bitcoin Tests Key Support at $115K

FenzoFx—Bitcoin's downtrend extended to $115,000, filling the bullish fair value gap now acting as support. The current price equals 25.0% of the previous bullish leg. If BTC closes and stabilizes below $115,000.0, the downtrend may deepen toward the $112,000.0 support order block.

Conversely, a close above $117,445.0 would invalidate the bearish outlook. This level marks the last bearish candlestick pattern and a break of structure. If confirmed, BTC/USD could recover recent losses, targeting resistance at $119,339.0.

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BCH Consolidates Below $620 Highs

FenzoFx—Bitcoin Cash is consolidating after forming equal highs at $620.0. While the trend remains bullish, the current phase may push toward lower support.

Equal highs signal low liquidity, often followed by a move to lower levels before a rally. The bullish order block at $514.0 is a key discount level, offering a potential entry for buyers targeting $640.0 resistance.

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XRP: Key Support at $2.72 Holds Bullish Outlook

FenzoFx—XRP (Ripple) broke its bearish structure with a strong engulfing pattern on August 7 and is now consolidating near $3.00. This level is supported by a bullish order block, with immediate support at $2.90.

The 4-hour chart shows equal highs at $3.66, marking a liquidity target. Immediate resistance lies at $3.09, and a close above this level could resume the uptrend.

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Litecoin Eyes Reversal from $112.5 Support

FenzoFx—Litecoin currently trades near $115.5, having swept last week's low liquidity. This level is supported by a bullish fair value gap, with key support at $112.5, offering a potential reversal point.

Immediate resistance stands at $117.4. A close above this level could trigger a bullish wave toward the next supply zone at $123.3.

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Liquidity Sweep and Bearish Setup on USD/CAD

FenzoFx—USD/CAD swept the liquidity above the 1.387 resistance, currently trading below this level. The 4-hour chart shows the pair formed a long wick bearish candlestick pattern.

The immediate support is at 1.386. From a technical perspective, a close with a bearish engulfing candlestick should be considered as a change of character. In this scenario, we expect the price to dip toward the next support level at 1.381.

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Bitcoin Maintains Bearish Momentum

FenzoFx—Bitcoin stayed bearish, trading around $113,500.0 in today’s session. During the Asian hours, it swept liquidity above the previous day’s high and quickly dipped below $114,627.00.

The next buy-side liquidity zone lies at $111,903.00. The bearish outlook remains intact unless this level is swept.

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NVIDIA's Double Bottom: A Bullish Setup?

FenzoFx—NVIDIA took out the liquidity below $170.60 support, forming a double bottom near this demand area. Looking at the 4-hour chart, we notice the market left two bearish fair value gaps and equal highs at $183.7.

Immediate support is at $170.6. If this level holds, we expect NVIDIA to fill the gaps, first targeting $176.00 followed by $180.00.

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EUR/USD Sweeps Liquidity: A Bearish Setup

FenzoFx—EUR/USD trades in a downtrend, forming lower lows. Today, during the late Asian session, the pair swept the liquidity below $1.1590.

From a technical perspective, we expect the price to consolidate from this point by filling the fair value gap, with resistance at $1.1636. In this scenario, a new bearish wave could emerge, targeting the bullish order block with support at $1.1528.

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Bitcoin Holds Bullish Structure

FenzoFx—Bitcoin formed equal highs after sweeping liquidity above $117,046.00 on Friday. Technically, Bitcoin remains bullish due to Friday’s price displacement. 

Immediate resistance lies at $113,677.00. If bulls close and stabilize above this level, the uptrend may resume, targeting the equal highs at $117,046.00. A further rise could fill half of the bearish fair value gap toward $119,700.00.

Currently, no bearish setup is expected unless BTC reaches the premium price zone of $119,700.00 and above.

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Nasdaq's Bearish Drift: Key Levels in Focus

FenzoFx—Nasdaq's short-term trend is bearish. Friday's rally eased after the price filled the fair value gap with resistance at $23,569.00. Today, NQ displaced below the recent lows, currently trading inside the bullish FVG.

There is a relevant equal low at $23,012.00. From a technical perspective, the bearish outlook remains valid if the price holds below $23,569.00. In this scenario, we expect the market to fill the FVG with immediate support at $23,277.00.

Furthermore, if the selling pressure persists, Nasdaq could sweep the equal low by targeting the support at $22,950.00.

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EUR/USD Bearish Setup with Target

FenzoFx—EUR/USD filled the bullish fair value gap after it swept the highs at 1.1730, formed a double top. However, the recent decline in the currency pair did not result in a liquidity sweep below recent lows.

Therefore, the bearish outlook remains valid despite the primary trend, which is bullish. This week, we expect EUR/USD to trade below $1.1591 to accumulate liquidity before rallying higher. 

Retail traders should monitor the middle line of the bearish engulfing pattern with resistance at $1.1685 for a bearish setup, targeting the equal lows followed by the bullish order block with ultimate support at $1.1528.

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AUD/USD Bearish Setup with Targets Explained

FenzoFx—AUD/USD formed new lower lows and lower highs after it was displaced by closing below $0.6485. Interestingly, the pair created equal lows at $0.6418. This indicates the trend should be considered bearish, and liquidity is present below $0.6418.

Currently, AUD/USD is consolidating by tapping into the bearish order block. From a technical perspective, we expect the downtrend to resume.

Targets: $0.6418 followed by $0.6372.

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GBP/USD Is Falling: Here's Why Selling Could Be Risky

FenzoFx—GBP/USD displaced below $1.3446 minor support in today's trading session. This dip in the price could be a trap for two major reasons:

There is a smooth equal highs at $1.3490, and above it exists the weekly opening gap. The market tends to invalidate equal highs and fill the weekly opening gap price.

Therefore, selling at the current price is risky. We suggest using the weekly opening gap to plan a bearish trade. If this scenario unfolds, we expect GBP/USD to target the equal lows at $1.3399. This setup provides a 1 to 4 risk to reward.

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GBP/JPY:  Key Levels to Watch: 199.53 and 198.3  

FenzoFx—GBP/JPY trades sideways after dropping below 198.59. The recent momentum shift formed a bearish order block at 199.53. The outlook stays bearish if price remains below this level. 

The 4-hour chart reveals equal lows at 198.3, a key target. For the bearish trend to continue, price must stay under the midpoint of the order block. If selling pressure persists, 197.85 is the next target. A break above 199.53 would invalidate this setup.