The EURCAD chart shows that the price is moving in a bearish channel and on the other hand is moving and fluctuating between the support level at 1.3400 and resistance LEVEL at 1.3777. Currently, the price is located on the support area and we expect a significant drop to the bottom of the channel if this area is broken. Hence the recommendation to SHORT by breaking the SUPPORT zone and placing the stop loss on top of this support area.