EURUSD London briefing — 2026-05-18

BIAS BEARISH. H4 EMA bearish overrides H1 neutral; D1 neutral resolves down via 4H hierarchy. KEY LEVELS R: 1.165, 1.17, 1.18088 | S: 1.1609, 1.16, 1.155 NEWS 🟡 NAHB Housing Market Index (USD) 14:00 UTC 🟡 3M & 6M Bill Auctions (USD) 15:30 UTC SESSION OUTLOOK Expect mild USD strength into auctions. Watch 1.165 rejection; break below 1.16 confirms bearish extension toward 1.155. PRO UNLOCKS Entry: 1.1638 short-bias, SL: 1.1655, TP1: 1.1609, TP2: 1.155, FVG: 1.1620–1.1

Key Levels

R: 1.16500 · 1.17000 · 1.18088

S: 1.16090 · 1.16000 · 1.15500