In my analysis, we are observing signs of weakness in the Euro, as indicated by recent candlestick formations that reflect a notable lack of buying pressure. This behavior appears to be aligning with key Fibonacci retracement levels, suggesting a potential transition towards lower price levels. I anticipate that in the pre-New York session, we may witness a temporary fake-out before a subsequent downward movement. Traders should exercise caution and consider these factors in their decision-making process
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.