EURCAD London briefing — 2026-10-23

BIAS BEARISH. D1 + H4 + H1 trend aligned down; RSI oversold at 27.1; H4 and H1 fair-value gaps both bearish. KEY LEVELS R: 1.575, 1.58, 1.6141 | S: 1.57, 1.56959, 1.565 NEWS 🔴 HCOB Composite PMI (EUR) – Fri 08:00 UTC 🔴 HCOB Manufacturing PMI (EUR) – Fri 08:00 UTC 🔴 HCOB Services PMI (EUR) – Fri 08:00 UTC SESSION OUTLOOK High PMI data hits early London. Watch for EUR reaction—weak data accelerates bearish structure; strong data may trigger false-breakout sweep before resuming downtrend.

Key Levels

R: 1.57500 · 1.58000 · 1.61410

S: 1.57000 · 1.56959 · 1.56500