May. 24 at 3:28 PM
$EU weekly hammer caught some attention — buyers stepped in hard after early weakness and defended the lows into the close.
That long lower wick is basically showing rejection of lower prices, but here’s the key: hammer alone doesn’t mean reversal without follow-through.
Now it becomes simple — confirmation or nothing.
Above ~
$1.56 on a weekly close = potential pivot confirmation and momentum shift back to bulls.
Fail to confirm = just another pause inside a broader downtrend.
Until then, it’s a wait-and-see structure, not an active breakout yet.
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