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.
Both Bitcoin and Ethereum are forming short-term corrections, which may later be followed by further decline towards their key lows.
The convergence made AUDUSD complete its decline and start a new rising wave to reach the high, while USDCAD plunged after two weeks of moving sideways.
GBPUSD is trying to break the sideways channel to the upside, while EURJPY is about to start a new rising impulse to reach its highs.
EURUSD is steadily trading upwards to update the high, while USDJPY is about to reverse after the divergence.
After falling and reaching 38.2% fibo, XAUUSD is correcting again; USDCHF is heading towards the high where it may later start a short-term pullback.
Both Bitcoin and Ethereum have formed new descending impulses and may update their respective monthly lows in the nearest future.
AUDUSD is correcting after finishing the first descending wave, while USDCAD continues growing towards the highs.
GBPUSD and EURJPY have been correcting for the second consecutive month. After a slight growth, both instruments may resume falling towards their respective lows.