EURCAD London briefing — 2026-05-06

BIAS BEARISH. D1 structure dominates hierarchy over divergent H4/H1; RSI neutral supports downside continuation. KEY LEVELS R: 1.595, 1.6, 1.62471 | S: 1.59052, 1.59, 1.585 NEWS 🟡 ECB Lane speech (08:00 UTC) 🟡 HCOB Composite PMI (08:00 UTC) 🟡 HCOB Services PMI (08:00 UTC) SESSION OUTLOOK London opens with three EUR events clustered at 08:00. Dovish commentary or weak PMI data accelerates bears toward 1.585 support. PRO UNLOCKS Entry 1.5945 | SL 1.5965 | TP1 1.5905 | TP2 1.585 | FVG 1.592-1

Key Levels

R: 1.59500 · 1.60000 · 1.62471

S: 1.59052 · 1.59000 · 1.58500