FxWirePro: EUR/CAD gaining momentum for a move towards 1.5800 level

• EUR/CAD strengthened  on  Monday  as investors   looked past escalating geopolitical tensions in the Middle East, focusing instead on broader market fundamentals and upcoming economic events. 

• The upward move in EUR/CAD also underscored diverging monetary policy expectations between the European Central Bank and the Bank of Canada.

•  Markets will closely watch this week’s monetary policy meetings of the Bank of England and the U.S. Federal Reserve for guidance on how central banks intend to navigate the economic uncertainty stemming from U.S. tariff policies.

• In addition, the Group of Seven (G7) summit in Canada will be in focus, with investors scanning for any signals on trade tensions and potential tariff developments.
 
•  Immediate resistance is located at 1.5773(Higher BB), any close above will push the pair towards 1.5940(23.6%fib).

•  Support is seen at 1.5669(50%fib) and break below could take the pair towards 1.5549(Lower BB).

Recommendation: Good to buy  around 1.5670 , with stop loss of 1.5560 and target price of 1.5800