Fibonacci retracements are actively used by traders, when they study how impulses are formed and try to find levels of possible trend corrections. Fluctuations in the prices of certain assets often repeat the Fibonacci sequence. As a result, they may have some additional information on possible direction of the currency market movement in the future.
Fibonacci analysis is a popular and useful tool for a trader, it works well for both long and short timeframes. This page presents Fibonacci analysis from RoboForex experts that will help you invest more wisely. To make trading even more efficient, combine Fibonacci analysis with other technical analysis tools such as Ichimoku indicators and Japanese candlesticks.
GBPUSD is still consolidating, while EURJPY is starting a new wave to the upside.
EURUSD dropped again after another attempt to rise; in the case of USDJPY, the price is slowly correcting.
The rising wave in XAUUSD has tested the mid-term 61.8% fibo at 1908.00; in the case of USDCHF, the price is moving downwards again.
Brent is falling again after divergence on MACD, while the Dow Jones index is forming a new impulse to the downside.
GBPUSD is consolidating in anticipation of a further uptrend; in the case of EURJPY, the price is about to complete the pullback and resume growing towards the high at 134.12.
EURUSD is about to complete the pullback and start a new rising impulse; in the case of USDJPY, the price has failed to break the high and may start a deep correction.
XAUUSD continues moving upwards, while USDCHF is consolidating before attacking the high at 0.9374.
AUDUSD may fall to reach the low at 0.6967; in the case of USDCAD, the price is forming a new rising impulse towards the high.