EURCAD New York briefing — 2026-05-07

BIAS BEARISH. D1 structure dominates hierarchy; RSI overbought confirms pullback risk despite H1 bullish EMA. KEY LEVELS R: 1.605, 1.61, 1.62471 | S: 1.6, 1.595, 1.59052 NEWS 🟡 ECB Lane speech 12:40 UTC 🟡 ECB Schnabel speech 17:00 UTC 🔴 ECB Lagarde speech (Fri 07:00 UTC) SESSION OUTLOOK ECB speakers dominate; EUR volatility expected. Watch 1.605 resistance rejection into NY close for bearish confirmation. PRO UNLOCKS Entry 1.6035, SL 1.6090, TP1 1.5950, TP2 1.5890, FVG 1.6070–1.6100, liquidity sweep 1

Key Levels

R: 1.60500 · 1.61000 · 1.62471

S: 1.60000 · 1.59500 · 1.59052