Basically, Fibonacci retracement tool is the trend line analysis. It is the best toll used when market is trending, so this makes a lot of sense. Whenever the pair is in downtrend or uptrend, the traders use Fibonacci retracement as a way to get the trend. It helps to locate the levels where Fib levels line up right smack/break the trend. It also helps in small term trend line which occurred in past couple of days. Fibonacci retracement levels help the price which bounced before heading back up. If you have set some orders at that specific level, you will have a right entry.