This redness of the fungal infection should go away slowly. Don’t use any cosmetics on the penis, instead use some topical antimicrobials like Bacitracin or Lotrimin. Also retract the foreskin daily and soak in warm water to clean penis and foreskin. In case the redness persists then please get it evaluated from a dermatologist.
It is very difficult to precisely confirm a diagnosis without examination and investigations and the answer is based on the medical information provided. For exact diagnosis, you are requested to consult your dermatologist. I sincerely hope that helps. Take care and please do keep me posted on how you are doing.