EURCAD COULD THIS BE THE BREAKDOWN

EURCAD has been in this funky range from the end of 2015 all the way through to the end of 2016.

Over the last few months you have seen it break through both levels, however we have just had a break below and a convincing close on Friday, shown at point 1. Is this now where EURCAD starts to decline?

If we start to see confirmation of a downward move I will have a target of 1.3450.