EURUSD London briefing — 2026-10-07

BIAS BEARISH. D1 + H4 + H1 EMAs aligned downtrend; H4 and H1 fair value gaps both bearish; RSI neutral supports continuation without overbought resistance. KEY LEVELS R: 1.125, 1.13, 1.1642 | S: 1.12, 1.11617, 1.115 NEWS 🟡 ECB Vujčić speech (EUR) Wed 07:20 UTC 🟡 MBA Mortgage Applications (USD) Wed 11:00 UTC 🟡 EIA Crude Oil Stocks (USD) Wed 14:30 UTC SESSION OUTLOOK Watch ECB rhetoric for hawkish surprises; lower-impact USD data unlikely to override trend. Bias favors dips into support zone.

Key Levels

R: 1.12500 · 1.13000 · 1.16420

S: 1.12000 · 1.11617 · 1.11500