EURUSD New York briefing — 2026-05-05

BIAS BEARISH. D1 structure dominates hierarchy over neutral RSI; H1 bearish EMA confirms downside bias despite H4 neutrality. KEY LEVELS R: 1.17, 1.175, 1.18488 | S: 1.1656, 1.165, 1.16 NEWS 🟡 S&P Global Composite PMI (USD) 13:45 UTC 🟡 S&P Global Services PMI (USD) 13:45 UTC 🔴 Redbook Index YoY (USD) 12:55 UTC SESSION OUTLOOK Redbook precedes PMI data; watch for USD strength catalysts. Bears target 1.1656 if PMI disappoints; rejection at 1.17 confirms downtrend continuation. PRO UNLOCKS Entry 1.16962, SL 1.1735, TP1 1.

Key Levels

R: 1.17000 · 1.17500 · 1.18488

S: 1.16560 · 1.16500 · 1.16000