Fibonacci Retracements Analysis

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.


Fibonacci Retracements Analysis 20.01.2020 (GOLD, USDCHF)

XAUUSD may yet continue trading downwards, while the convergence on MACD indicates that USDCHF may start a new correctional uptrend.

Fibonacci Retracements Analysis 17.01.2020 (BITCOIN, ETHEREUM)

Bitcoin is rising, but this movement should be considered as an ascending correction; in case of Ethereum, the correction is gaining momentum.

Fibonacci Retracements Analysis 16.01.2020 (AUDUSD, USDCAD)

In case of AUDUSD, the correction is very slow; USDCAD is correcting sideways.

Fibonacci Retracements Analysis 15.01.2020 (GBPUSD, EURJPY)

GBPUSD is moving towards the local low; after testing the mid-term support and failing to continue its decline, EURJPY is trading to attack the highs.

Fibonacci Retracements Analysis 14.01.2020 (EURUSD, USDJPY)

EURUSD is finishing the correction and about to start a new rising impulse, while USDJPY has updated its weekly highs and may attach the year’s high at 112.40.

Fibonacci Retracements Analysis 13.01.2020 (GOLD, USDCHF)

XAUUSD has corrected to the downside by 38.2%; USDCHF is correcting upwards, but the downtrend may resume soon.

Fibonacci Retracements Analysis 10.01.2020 (BITCOIN, ETHEREUM)

After completing the rising wave, Bitcoin is falling again; however, as long as the pair is moving above the low, it may yet resume growing. Ethereum slowed down its correctional growth and may start a new wave to the downside.

Fibonacci Retracements Analysis 09.01.2020 (AUDUSD, USDCAD)

In case of AUDUSD, a steady decline was slowed down for a correction; after updating the low, USDCAD is starting a new correction.