EURCAD London briefing — 2026-05-08

BIAS BULLISH. H1 EMA bullish diverges against neutral D1; RSI 66 supports upside momentum into resistance. KEY LEVELS R: 1.605, 1.61, 1.62471 | S: 1.6, 1.595, 1.59052 NEWS 🟡 ECB Cipollone speech (EUR) – 12:00 UTC 🔴 Net Change in Employment (CAD) – 12:30 UTC 🟡 Average Hourly Wages YoY (CAD) – 12:30 UTC SESSION OUTLOOK Watch Cipollone remarks for EUR volatility, then CAD jobs data at 12:30. Expect range compression pre-data, potential breakout post-NFE release. PRO UNLOCKS Entry, SL, TP1, TP2, FVG zones, liquidity sweep, Fibonacci confluence —

Key Levels

R: 1.60500 · 1.61000 · 1.62471

S: 1.60000 · 1.59500 · 1.59052