J.J. Edwards’ Expert Market Analysis at FenzoFx

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GBP/USD Breaks $1.3202: Bullish Market Insights

FenzoFx—The GBP/USD currency pair shows strong bullish momentum, breaking above $1.3202 yesterday. With overbought signals from the Stochastic indicator, a consolidation phase may lead to declines toward $1.3144 and $1.3030. 

Traders should watch for bullish candlestick patterns near these support levels.

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Litecoin Analysis

FenzoFx—Litecoin is trading at $75.9 after closing below $76.4 and testing it as resistance. The Stochastic Oscillator signals oversold conditions, suggesting a possible price bounce, although the bearish trend persists below $80.0. 

If the bearish momentum continues, the next target could be $71.0. Alternatively, stabilization above $80.0 may extend gains toward $88.5.

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NZDUSD Analysis

FenzoFx—NZD/USD is trading at $0.593, a resistance area, with overbought signals from the Stochastic and RSI 14 indicators. Traders are advised to wait for consolidation, as the price may dip toward $0.5855 and $0.5769. 

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AUD/USD Analysis

FenzoFx—AUD/USD bullish momentum stalled at $0.6407, a strong resistance. The Stochastic Oscillator dropped below 80, signaling weakening buying pressure.

Technically, AUD/USD appears overbought, suggesting a potential dip toward the $0.6276 support. A consolidation phase may emerge, so traders should watch for bullish candlestick patterns at this level.

Edited Thursday at 08:33 AM by FenzoFx

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Crude Oil Analysis

FenzoFx—Crude Oil started a bullish wave from $55.15, trading at around $62.20. Momentum slowed near $63.90 resistance. The price may dip toward $58.90 support, with further pressure potentially driving it to $55.15.

If Crude Oil surpasses $63.90, the bearish outlook invalidates, targeting $65.10 resistance.

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Ethereum Analysis

FenzoFx—Ethereum trades sideways, unable to surpass $1,690 resistance. Currently, it hovers at $1,565, testing this level as support.

The bearish trend persists below $1,755. Stabilization under $1,565 may lead to dips toward $1,470 and potentially $1,370 if selling pressure increases.

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NATGAS Analysis

FenzoFx—NATGAS dipped below $3.43 support on April 14 and currently trades at around $3.22. The Stochastic Oscillator indicates potential consolidation before the downtrend resumes, with $3.43 as a key resistance. 

The bearish outlook holds unless NATGAS exceeds $3.66.

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GBP/USD Analysis

FenzoFx—The GBP/USD pair rebounded from $1.3202 support, currently trading around $1.3277 and continuing its bullish trend. 

As long as it stays above $1.3144, the next target could be $1.3435. On the flip side, a break below $1.3144 may trigger a bearish move towards $1.3030.

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Litecoin Analysis

FenzoFx—Litecoin slipped below $76.4 and is currently testing this level as support. With bearish momentum stemming from $80.0, the market outlook remains bearish while the price stays below this threshold. 

>LTC/USD may target $71.00 next, and selling pressure could drive it further down to $64.45. 
> A bullish shift would require a break above $80.0, paving the way toward $88.50 resistance.

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Ripple Trades Sideways: What's Next?

FenzoFx—Ripple (XRP) closed and stabilized below the $1.2091 support. This downtick in momentum began after the price failed to surpass the $2.218 resistance. 

The outlook of the market is bullish, but with the prices below the 50-SMA and the $1.2091 support, the downtrend could extend to the $1.9990 support zone. This zone stands between the bullish and the bearish market, making it a critical support level.