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•EUR/CAD traded in a narrow range on Monday as market participants remained cautious ahead of the latest round of U.S.-China trade talks scheduled for later in the day.
•Top U.S. and Chinese officials are set to meet in London for trade talks, with investors watching closely for signs of progress in easing tensions between the world’s two largest economies.
•The talks follow a recent call between the U.S. and Chinese presidents, where both sides agreed to resume negotiations amid an escalating trade war that has moved beyond tariffs to include export controls.
•China stated on Friday that it is prepared to expedite the review and approval process for rare earth exports to companies within the European Union.
•Immediate resistance is located at 1.5688(50%fib), any close above will push the pair towards 1.5730(Higher BB).
•Support is seen at 1.5578(61.8%fib) and break below could take the pair towards 1.5539(Lower BB).
Recommendation: Good to buy around 1.5600 , with stop loss of 1.5530 and target price of 1.5710
