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Random article: European Forex Market
Share of the European market is nearly 36%. European market is currently the most crowded, where thousands of entrepreneurs conduct forex trading transactions.
Fibonacci numbers represent subsequent row of numbers 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and so long up to infinity. Secret of this row is that every subsequent number is related by the previous according to a certain ratio. At present, the best known Fibo coefficients are: 4.235, 2.618, 1.618, 0.618, 0.382, 0.236. Fibonacci Arcs represent curves, which serve as potential support and resistance lines on the chart. Fibonacci Arcs were notedly popularized by a well-known trader, financier and founder of the wave theory Ralph Nelson Elliott.
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