EURCAD London briefing — 2026-09-23

BIAS BULLISH. D1 structure, H4 EMAs, and H1 trend alignment drive conviction; H4 fair value gaps reinforce upside momentum despite H1 bearish FVGs and neutral RSI. KEY LEVELS R: 1.61191, 1.615 | S: 1.605, 1.6, 1.5996 NEWS 🔴 HCOB Composite PMI (EUR) — Wed 08:00 UTC 🔴 HCOB Manufacturing PMI (EUR) — Wed 08:00 UTC 🟡 Vujčić speech (EUR) — Wed 07:00 UTC SESSION OUTLOOK High-impact EUR data at 08:00 UTC drives volatility; watch reaction at 1.61 resistance. Bullish structure holds if data supports ECB dovishness.

Key Levels

R: 1.61000 · 1.61191 · 1.61500

S: 1.60500 · 1.60000 · 1.59960