Fibonacci retracements are actively used by traders, when they study how impulses are formed and try to find levels of possible trend corrections. As a result, they may have some additional information on possible direction of the currency market movement in the future.
The situations in both Bitcoin and Ethereum haven’t changed much: in the short-term, they are expected to move downwards.
The situations in both AUDUSD and USDCAD haven’t changed much over the week.
After completing the correction to the downside, GBPUSD is forming a new rising wave; in the case of EURJPY, the instrument is about to finish the ascending correctional wave and start a new impulse to the downside.
EURUSD is consolidating before making a new “jump”, while USDJPY is completing the correction and preparing for another growth.
After breaking the high, XAUUSD is trying to fix above it but doesn’t seem to be strong enough; in the case of USDCHF, the price is falling.
Descending corrections in both Bitcoin and Ethereum have reached their first targets at 23.6% fibo.
AUDUSD is still consolidating not far from 50.0% fibo, while USDCAD may jump in the nearest future.
GBPUSD is falling but may start a new pullback soon, while EURJPY is about to finish the ascending correctional wave and start a new impulse to the downside.