FxWirePro: EUR/CAD firms as focus shifts from Canadian election to trade risks

• EUR/CAD firmed  on Tuesday  as markets shifted focus from Canada’s election results to the broader economic risks posed by Trump’s global tariff actions.

• Canadian Prime Minister Mark Carney's Liberals retained power in Monday’s election, driven by voter backlash over Trump’s tariffs and remarks about turning Canada into the 51st U.S. state.

• Markets have steadied recently on hopes of trade deals, particularly with China, but uncertainty around Sino-U.S. talks continues to weigh on investor sentiment.

• Meanwhile, European Central Bank board member Piero Cipollone cautioned that a global trade war would clearly trigger a recession for the countries involved.

• At GMT 16:34,the euro was up  0.03% at 1.5779 against Canadian dollar   .

•  Immediate resistance is located at 1.5862  (23.6%fib), any close above will push the pair towards 1.5954 (Higher BB).

•  Support is seen at 1.5742 (Daily low) and break below could take the pair towards 1.5658 (38. 2%fib).

Recommendation: Good to buy around 1.5780, with stop loss of 1.5700 and target price of 1.5860