J.J. Edwards’ Expert Market Analysis at FenzoFx

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Gold: Volume Profile Signals Potential Reversal

FenzoFx—Gold rose from $3,729.50 today, testing the resistance at $3,751.30. Interestingly, the cumulative volume profile did not form a new higher high, indicating bearish divergence.

The immediate support is at $3,747.00. From a technical perspective, XAU/USD could dip if the price crosses and stabilizes below the support. Traders should monitor the short-term resistance and the cumulative volume delta closely for bearish setups.

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EUR/USD Eyes Liquidity Gap at $1.1788 Support

FenzoFx—Euro is trading bearish in the short term, currently lingering around the fair value gap with support at $1.1788. Looking at the 4-hour chart, we notice the price respected the bearish FVG with resistance at $1.1903, and the price failed to close above it and engulfed below it.

From a technical perspective, the sell-side liquidity has not been taken yet. That's the gap area with support at $1.1788. We expect the short-term bearish bias to resume by filling the gap. The cumulative volume profile also indicates the recent higher lows are valid, and there is no bullish divergence.

The bearish outlook should be invalidated if the price closes above $1.1903.

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GBP/JPY: Support at 199.80 Key to Downside

FenzoFx—GBP/JPY is consolidating in a mild uptrend, trading around 200.00 inside the bearish fair value gap. Immediate support rests at 199.80. If price closes below this level, the bearish trend may resume, targeting equal lows at 199.14 and potentially 198.67 if selling pressure continues.

The bearish outlook is invalidated if price closes above the bearish FVG resistance at 200.30.

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Bitcoin Eyes $114K Before Bearish Continuation

FenzoFx—Bitcoin remains bearish, though the downtrend eased near the equal lows at $107,268. The first daily bearish fair value gap has been inverted, but this does not signal a market structure shift. Price may rise toward higher resistance before resuming its decline.

Immediate support is at $110,370. Technically, BTC/USD could target the mean threshold of the bearish FVG near $114,000.0, offering a premium entry for short positions aiming below $107,268.

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Litecoin: Bearish Outlook Holds Below $114.00

FenzoFx—Litecoin dipped below $103.10 liquidity and rebounded, now trading around $105.9. The trend remains bearish, supported by lower lows and volume profile.

Following the sweep, LTC/USD may consolidate toward resistance, targeting the daily FVG mean threshold near $110.5. If buying pressure continues, the gap could be filled up to $114.00.

The bearish outlook remains valid below $114.00, with potential downside targeting liquidity at the $88.00 area. A close above $114.00 would invalidate this view.

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Euro May Drop Toward $1.1656

FenzoFx—Euro traded higher today, up by 0.33%; however, the uptrend eased after the price reached the equal highs at $1.1807. However, the volume profile formed lower lows, meaning the current uptick in momentum could be fake.

The immediate support rests at $1.1761. From a technical perspective, a close below this level can trigger the downtrend. If this scenario unfolds, Euro could target the lows at $1.1656.