Yes, it did come down. But no, it didn't end the week as a black candle.
On the weekly chart, price action has broken above the previous high set back in August, but it actually didn't close above the previous high. The week ended with a spinning top. Still rather unsure! Chikou broke above EMA50, attempted to breach the cloud but failed. Take FB retracement from August 2009 and November 2009, two major resistances at FB67, which are 1.6110 and 1.6010, respectively.
On the daily chart, though a bearish antenna was formed, it's not wise to short this pair too aggressively to be safe, as Ichimoku indicators haven't give signals of weakness. Adventurous play though, can be to short it from 1.6065, with SL covering at least 1.6110.
4-hourly chart, also still bullish signals at least for the time being. However, with thin cloud ahead, a reversal can be rather sharp if it does happen.
In a nutshell:
R3: 1.6350 (FB80)
R2: 1.6110 to 1.6143 (FB67 and Chikou support)
R1: 1.6065
S1: 1.5945 (Chikou support)
S2: 1.5800 to 1.5830 (previous resistance turned support)
S3: 1.5570
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