EURCAD London briefing — 2026-09-04

BIAS BEARISH. H4 and H1 EMAs aligned downward; RSI neutral at 40.89 avoids overbought rejection; D1 structure neutral confirms no daily-level reversal signal yet. KEY LEVELS R: 1.605, 1.61, 1.61879 | S: 1.6, 1.59784, 1.595 NEWS 🟡 ECB Lane speech 09:00 UTC 🔴 EUR Retail Sales YoY 09:00 UTC 🟡 EUR Retail Sales MoM 09:00 UTC SESSION OUTLOOK London open: watch for reaction to pre-London ECB/retail data. Bearish structure favors probes toward 1.6 support if data disappoints EUR.

Key Levels

R: 1.60500 · 1.61000 · 1.61879

S: 1.60000 · 1.59784 · 1.59500