The EURCAD shows a combination of fibonacci projections thats makes more probable to expect the price fall to a 1.3538 because:
Since the start of the rally we have seen the most wide correction downside (retracing in the first down movement a bit below the 1.36, thats tell you the upside is more probable have ended and there for we can expect some amount o f retrace over the last rally (from 1.3068 to 1.3814)
Then find a upside pullback for the downside pullback which gives you the idea (if more correction for the rally is needed as we think) that could be a simple gartley, well, the projection for the next downside movement if equals the first one, leads you to the 1.3538, which is realy near the 38.2% retracement for the last big upside rally (1.3068-1.3814) then when the price touch that levels will need to decide if makes a turn to the upside and accelerate the trend trying to reach higher highs in a more speedy fashion or keeps falling mainteining the actual pace.
If you chance the timeframe to weekly will find that we are in a down trend channel as well and need some more upside advance to keep the actual rythm of the uptrend.
Since the start of the rally we have seen the most wide correction downside (retracing in the first down movement a bit below the 1.36, thats tell you the upside is more probable have ended and there for we can expect some amount o f retrace over the last rally (from 1.3068 to 1.3814)
Then find a upside pullback for the downside pullback which gives you the idea (if more correction for the rally is needed as we think) that could be a simple gartley, well, the projection for the next downside movement if equals the first one, leads you to the 1.3538, which is realy near the 38.2% retracement for the last big upside rally (1.3068-1.3814) then when the price touch that levels will need to decide if makes a turn to the upside and accelerate the trend trying to reach higher highs in a more speedy fashion or keeps falling mainteining the actual pace.
If you chance the timeframe to weekly will find that we are in a down trend channel as well and need some more upside advance to keep the actual rythm of the uptrend.