The market will of course continue to be very choppy and nervous, but longer-term traders may be looking at this as an excellent buying opportunity as the 50% Fibonacci retracement has offered support. At this point, I think it comes down to whether or not you feel that the European experiment will continue, because quite frankly the currency is an extremely low levels. However, if we did break down below that hammer, then I think the 61.8% Fibonacci retracement level could be supportive as well. Overall, I think that market participants are going to be cautious, but the grind continues.
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