FxWirePro: EUR/CAD struggle to extend its recovery, good to sell on rally

• EUR/CAD eased slightly on  Thursday  as traders looked for new signals from ongoing EU-U.S. trade negotiations.

• The European Union is actively pursuing a trade agreement with the United States before the looming August 1 deadline, according to officials and industry sources familiar with the discussions.

• Talks between the two sides have gained momentum in recent days, with negotiators working intensively to bridge remaining gaps.

• One of the key sticking points is the 25% U.S. import tariff on cars, imposed in April, which the EU views as a major barrier to progress. An EU diplomat emphasized that any breakthrough deal will likely require a significant easing or removal   of these auto tariffs.

• On the data front, German inflation eased to 2.0% in June, the statistics office confirmed Thursday, in line with preliminary estimates.
 
•  Immediate resistance is located at 1.6107(23.6%fib), any close above will push the pair towards 1.6198 (Higher BB).

• Support is seen at 1.5934 (July 3th low) and break below could take the pair towards 1.5843 (38.2%fib).

Recommendation: Good to sell  around 1.6000 , with stop loss of 1.6100  and target price of 1.5930