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.
Brent is consolidating before skyrocketing towards the high at 71.07, while the Dow Jones index is falling steadily and quickly.
After breaking the consolidation range to the upside, GBPUSD continues trading upwards; in the case of EURJPY, the price is still testing the long-term 76.0% fibo but a divergence on MACD hints at a possible decline.
After finishing the correction, EURUSD is heading towards the high at 1.2350 again; in the case of USDJPY, the price may continue falling and deepen the correction.
XAUUSD is still growing and approaching 61.8% fibo, while USDCHF has stopped falling at 76.0% fibo.
AUDUSD is still trading close to 23.6% fibo, while USDCAD is heading towards the fractal low at 1.2061.
Brent is rising again towards the high at 71.07, while the Dow Jones index has updated its high after breaking the consolidation range.
GBPUSD continues trading not far from 23.6% fibo; in the case of EURJPY, the price has reached the long-term 76.0% fibo but divergence on MACD hints at a possible correction.
A divergence on MACD ended the rising wave in EURUSD, so the asset may try to update the low; in the case of USDJPY, the price is approaching 61.8% fibo after a convergence on MACD.