EURCAD London briefing — 2026-05-21

BIAS BEARISH — D1 structure + H4/H1 EMA alignment confirm downtrend; RSI neutral doesn't override multi-timeframe setup. KEY LEVELS R: 1.6, 1.605, 1.61513 | S: 1.595, 1.59052, 1.59 NEWS 🔴 HCOB Composite PMI (EUR) — 08:00 UTC 🟡 Current Account n.s.a & s.a (EUR) — 08:00 UTC SESSION OUTLOOK PMI data could trigger volatility at London open. Watch 1.6 resistance rejection; break below 1.595 confirms continuation lower. PRO UNLOCKS Entry: 1.5978 limit on retest | SL: 1.6015 | TP1: 1.595 | TP2: 1.59 | FVG:

Key Levels

R: 1.60000 · 1.60500 · 1.61513

S: 1.59500 · 1.59052 · 1.59000