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.
The EUR/USD pair rebounded from the correctional retracement of 61.8% twice and, as a result, started consolidating.
The EUR/USD pair rebounded from the correctional retracement of 61.8%.
The EUR/USD pair is trying to rebound from the correctional retracement of 50%.
The EUR/USD pair is being corrected to the upside.
Yesterday, the EUR/USD pair reached a new low, which means that it may continue falling.
In case of the EUR/USD pair, the ascending correction continues.
In case of the EUR/USD pair, the current ascending correction may yet continue and test the retracement of 50% and 1.0672 once again.
After rebounding from the group of downside fibo-levels, the EUR/USD pair started the current correction.