Cross pair euro to Canadian dollar is in ongoing, dynamic downward trend since March 2014. After late-July upward correction, price was clearly respecting the downtrend line. During last three session it retired a little and strongly broken below the important support level (1.44104), which many times in the past stopped further declines.
H4 chart confirms 1.44104 breakout. On the lower TF we can clearly see that level was defeated and the price does not intend to test it from the bottom and credit further declines. The closest target for current, downward momentum may be local support at 1.42968 (Oct-Nov 2013).
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