eurcad with channel update

same chart just with a channel

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I am still bearish until price and other factors indicate otherwise and I think we can make it to my target. price has bounced of that support but only as far as the 38 fib retrace and started breaking down again. if that support breaks then there is a big potential on the move all the way to the trend line highlighted in that diagonal rectangle. there is also the possibility of price trading sideways before moving down again. If price indicates otherwise or I see signs of a bullish move I will update