Fibonacci was an Italian mathematician who was born in the 12th century in Pisa. His real name was Leonardo Pisano and he is famous for the discovery of the Fibonacci numbers. It is said that the discovery of these numbers is based on some observations that were made at the Great Pyramid from Gizeh, Egypt. The numbers that bear Fibonacci's name represent a series of numbers in which every successive number is the some of the previous two.

This succession is to be found in numerous things from the nature. Some examples are the petals of a flower and the way of construction of the spiral galaxies from the cosmic space. Any number from the Fibonacci series is more or less 1.618 times the previous number and roughly 0.618 times the next ones. Thus, the result of dividing 0.618 by 1.618 is 38.2% and the result of 1.0 divided by 1.618 is 61.8%.

The forex market is the largest market that is closely to operate like a natural mechanism that can be explained by using some other rules than the natural phenomena. This is why the Fibonacci numbers are so well compatible and used when it comes to the forex market.