• EUR/CAD initially gained but gave up ground as global trade uncertainty and geopolitical concerns kept overall sentiment in check.
• President Donald Trump on Wednesday announced the relocation of some U.S. personnel from the Middle East, citing escalating tensions with Iran as the reason for the move.
• President Donald Trump added to market uncertainty by stating he might extend the deadline for trade talks, though he saw it as unlikely. He also noted that the U.S. would soon send letters to other countries outlining proposed trade deal terms.
• This week's focus centered on U.S.-China trade talks, which resulted in a deal to restore their truce. Despite the progress, long-standing tensions persisted as some tariffs remained in place.
• Immediate resistance is located at 1.5850(Daily high), any close above will push the pair towards 1.5966(23.6%fib).
• Support is seen at 1.5728(38.2%fib) and break below could take the pair towards 1.5522(50%fib).
Recommendation: Good to buy around 1.5740 , with stop loss of 1.5630 and target price of 1.5820
