FxWirePro: EUR/CAD slumps as U.S.-EU trade deal pressures euro

• EUR/CAD slipped  sharply lower on Monday   as euro attracted sellers after trade agreement between U.S. and European Union

• The EU-U.S. trade deal, praised by von der Leyen, sets a 15% tariff on most EU goods and includes $600 billion in EU investment in the U.S., along with greater market access for U.S. firms.

•   The U.S.-EU trade deal eased tensions, but some EU nations argue it unfairly favors Washington.

• Other major global economies are racing to finalize trade agreements ahead of the August 1 deadline set by U.S. President Donald Trump, in a bid to avoid punitive tariffs and secure favorable terms amid heightened trade uncertainty.

• At GMT 16:04,the euro was down  1.18 % at 1.5927 against Canadian dollar 

•  Immediate resistance is located at 1.5998(SMA 20), any close above will push the pair towards 1.6125 (23.6%fib).

•  Support is seen at 1.5924(July 23rd low) and break below could take the pair towards 1.5966(38.2%fib).

Recommendation: Good to sell  around 1.6000 , with stop loss of 1.6080  and target price of 1.5920