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 correctional uptrend in EURUSD may continue up to 1.2037, while USDJPY is expected to attack the high again after finishing the pullback towards 23.6% fibo.
XAUUSD has re-tested 23.6% fibo, while USDCHF is falling to reach 50.0% fibo at 0.9172 after a divergence.
AUDUSD seems to finish pulling back, and the quotations might drop to 50.0% Fibo; USDCAD might show a strong impulse of growth.
Brent quotations are consolidating between the low of 60.46 and 50.0% (65.76), Dow Jones keeps growing to the post-correctional extension area of 138.2-161.8%.
The correctional growth of GBPUSD is coming to an end, the quotations will head for 38.2% again; A wave of growth in EURJPY is attacking the high.
EURUSD is starting a pullback upon testing 38.2% Fibo, USDJPY has failed to rise to the high of 111.71.
Gold quotations have tested the low of 1676.78 and bounced off, USDCHF is still heading for 50.0% fibo at 0.9496.
After failing to reach 50.0% fibo on the second try, AUDUSD is starting a new pullback; in the case of USDCAD, the correctional uptrend has transformed into a new decline.