EURCAD is trading inside a 1W Channel Down (MACD = -0.004, B/BP = -0.0058) and has recently priced a Lower High (RSI = 48.167, Highs/Lows = 0.0000). The descending trend on 1D indicates that a strong bearish move is about to follow. The Lower Low supporting line puts the limit (at present) to 1.4700. This is also our short target (TP = 1.4700).