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.
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.
AUDUSD is about to start another descending wave to reach 0.7500, while USDCAD is expected to continue falling but only after a short-term pullback.
Brent slowed down its uptrend in favor of a short-term correction, while the DAX30 continues updating its highs one after another.
GBPUSD is testing 23.6% fibo before starting another decline, while EURJPY is trying to break the post-correctional extension area to the upside.
EURUSD may soon complete the pullback and resume its “bearish” phase towards 38.2% fibo; in the case of USDJPY, the uptrend is slowing down and may be followed by a new correction.
After failing to reach 50.0% fibo, XAUUSD is starting a new pullback; in the case of USDCHF, the rising wave has tested 38.2% fibo but the price is now correcting to the downside.
The pullback in AUDUSD is about to complete and the next descending wave may push the price down to 61.8% fibo; in the case of USDCAD, the price is preparing for a strong impulse to the upside.
The uptrend in Brent is stable but the asset may reverse at any moment; in the case of the Dow Jones index, the price is updating its highs one after another.