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.
After finishing a slight pullback, GBPUSD is falling towards 38.2% fibo again; in the case of EURJPY, the price is heading towards the high but “bears” aren’t giving up.
EURUSD continues falling slowly, while USDJPY is resuming its growth after finishing a slow correction.
XAUUSD is stuck inside the consolidation range, while USDCHF is growing to reach 50.0% fibo at 0.9496.
AUDUSD has failed to reach 0.7500 and may rise again; in the case of USDCAD, the correctional uptrend may soon transform into a new decline.
Brent is slowly falling and correcting its previous rising wave; in the case of Dow Jones, the price is slowing down its growth but it’s too early for another correction.
GBPUSD is falling towards 38.2% fibo; in the case of EURJPY, after failing to break the post-correctional extension area to the upside, the price has started a new decline.
EURUSD is waiting for the right moment to fall; in the case of USDJPY, the uptrend transformed into a slow correction.
XAUUSD is about to complete the pullback and may later fall towards 50.0% fibo; in the case of USDCHF, the current correction may fall deeper.