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.
Bitcoin is rising, but this movement should be considered as an ascending correction; in case of Ethereum, the correction is gaining momentum.
In case of AUDUSD, the correction is very slow; USDCAD is correcting sideways.
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.
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.
XAUUSD has corrected to the downside by 38.2%; USDCHF is correcting upwards, but the downtrend may resume soon.
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.
In case of AUDUSD, a steady decline was slowed down for a correction; after updating the low, USDCAD is starting a new correction.
GBPUSD has rebounded from the mid-term support, but the next descending wave may break it; EURJPY has tested the mid-term support, which means that it may continue moving downwards.