• 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
