I think traders often underestimate the importance of closes in the FX market. There is no official close but the end of the New York day at 5 pm ET is the best we’ve got.
When something ends the session (and the week even moreso) on the low or the high, it’s as good of an indicator as there is about what will happen next.
The euro is trading at the session low and has shown absolutely no pulse. There just aren’t any buyers.