Fibonacci retracements are a quick and easy way of predicting support and resistance levels in Forex. The Fibonacci tool works on the principle that markets tend to ‘retrace’ a portion of a move prior to continuing the dominant trend. Traders use the Fibonacci tool on MT4 to connect the lows and highs of a recent trend, swing or range and the tool displays likely support and resistance levels derived from the Fibonacci Sequence (Golden Ratio). Fibonacci levels appear again and again in Forex – this tool is surprisingly reliable when it comes to predicting support and resistance.
More News Posts
Singapore’s central bank keeps policy unchanged, as expected
SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary…
China central bank unexpectedly conducts medium-term loan operation, cuts interest rate
China’s central bank unexpectedly conducted a medium-term lending facility (MLF)…
US stock futures drop as Alphabet, Tesla earnings underwhelm
U.S. stock index futures fell in evening deals on Tuesday,…
US stock futures dip after tech rebound; Alphabet, Tesla earnings loom
U.S. stock index futures fell slightly in evening deals on…
Joe Biden drops out of race, endorses Kamala Harris
As was widely anticipated, U.S. President Joe Biden has stepped down…
Stock Market Today: S&P500 closes lower as tech continues to lose steam
he S&P 500 slumped for a second-straight day Thursday, pressured…
US stock futures rise as chip rout eases; more earnings awaited
U.S. stock index futures rose in evening deals on Wednesday,…
Fed’s Kugler cautiously optimistic inflation headed to 2% target
Federal Reserve Governor Adriana Kugler on Tuesday expressed cautious optimism…
Powell was tightlipped on timing, but subtle shift on policy tees up sooner cuts
Federal Reserve chairman Jerome Powell on Monday was tightlipped on…
Gold prices edge lower as dollar firms after Trump attack
Gold prices fell slightly in early Asian trade on Monday,…
