J.J. Edwards’ Expert Market Analysis at FenzoFx

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Bearish Gap Caps XAU/USD Upside

FenzoFx—Gold traded lower after it crossed above the descending trendline, capped at the $4,050.00 bearish gap. Currently, Gold is testing the trendline as support, with support at $3,925.00. The recent breakout has confirmation from cumulative volume delta, and the delta also made a new higher low and lower high.

The immediate support rests at $3,925.00. Yesterday, the price swept the sell-side liquidity by a few ticks below this level. This means the price should not return below this level in the current session if the market is bullish today.

From a technical perspective, if $3,925.00 support holds, XAU/USD will likely rise to take the buy-side liquidity at $4,050.00. Please note that the bearish outlook should be invalidated if the price closes below the immediate support. This setup has a 1 to 4 risk-to-reward.

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Gold: Bearish Divergence Signals Weak Momentum

FenzoFx—Gold tapped into the $4,050.00 buy-side liquidity yesterday, currently trading below this level. The cumulative volume delta demonstrates a lack of buying interest in gold, formed a bearish divergence with the price chart.

From a technical perspective, if Gold remains below $4,050.00, the price will likely decline toward the equal lows at $3,925.00.

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Gold Awaits Breakout or Breakdown

FenzoFx—Gold's upside momentum has been capped by the $4,050.00 resistance, backed by the anchored VWAP from October 23. The immediate support rests at the recent lower high, the $3,971.00 mark.

From a technical perspective, a close below the immediate support could trigger the downtrend, retesting the lows at $3,901.00. On the flip side, if the price closes above $4,050.00, the current uptick in momentum could extend to the upper line of the bearish channel, followed by $4,175.00.

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XRP Eyes $2.072 if Support Breaks

FenzoFx—XRP is down 3.30% today, trading around $2.2330. Immediate support lies at $2.2230, backed by the anchored VWAP. So far, the price hasn’t closed below this level on the daily chart. 

Technically, a close beneath VWAP could trigger further downside toward $2.072. If selling pressure continues, the next support is $1.922. The market outlook remains bearish while XRP trades below the descending trendline.

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BTC Correction Possible Before Further Drop

FenzoFx—Bitcoin continues its downtrend after dipping below the bearish fair value gap, now trading around $104,150.00. Immediate support sits at $103,400.00. A daily close below this level could trigger further downside, with thin liquidity below. 

Technically, a correction may occur first, potentially pushing BTC toward $108,800.00 before resuming the decline. If $103,400.00 is breached, the next support levels are $100,000.00 and $98,000.00.