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.
AUDUSD is about to complete the descending wave and may soon grow to reach the high; in the case of USDCAD, the price is still consolidating within a Triangle pattern.
Brent is heading towards the high at 77.48, while the Dow Jones index has re-tested 38.2% fibo.
GBPUSD is trying to grow and reach 61.8% fibo, while EURJPY is forming another descending wave.
The current decline in EURUSD may break the low but it’s just a threat; in the case of USDJPY, the price is still consolidating above 23.6% fibo.
After failing to grow and reach 76.0% fibo, XAUUSD has started a new decline; in the case of USDCHF, the price may break the high at 0.9275.
AUDUSD is expected to continue rising after completing the correction, while USDCAD may start a new descending wave at any moment.
Brent wants to rise but something is standing in the way, in the case of the Dow Jones index, there is a signal for a trend reversal.
GBPUSD has started a new decline, while EURJPY continues trading upwards.