The EURCAD chart H4 time frame we see bullish momentum starting from 6th July and reached its recent high on 31st July near the price at 1.59780, then EUR losing it's bullish momentum and CAD start gaining against EUR. We also see on the H4 chart EURCAD just breakout its new critical support level at a price near 1.56580 8th August. We expect more down within a couple of days, so we are going to short on EURCAD from 1.56450 with a tight stop loss at 1.56950, and our target level will be at this price of 1.5525.