EURAUD London briefing — 2026-05-07

BIAS BEARISH. D1 structure, H4 EMA, and H1 EMA all aligned downside; RSI neutral supports continuation. KEY LEVELS R: 1.625, 1.63, 1.6503 | S: 1.62, 1.61842, 1.615 NEWS 🔴 Retail Sales YoY (EUR) 09:00 UTC 🟡 Retail Sales MoM (EUR) 09:00 UTC 🟡 ECB Elderson Speech 12:00 UTC SESSION OUTLOOK Weak EUR data could accelerate sell-off toward 1.62. Monitor ECB commentary for directional confirmation post-speech. PRO UNLOCKS Entry 1.6185, SL 1.6315, TP1 1.6142, TP2 1.6085, FVG 1.6220–1.6

Key Levels

R: 1.62500 · 1.63000 · 1.65030

S: 1.62000 · 1.61842 · 1.61500