EURCAD recently reversed down with the daily Shooting Star from the resistance zone lying between the key resistance 1.54000 (which has been repeatedly reversing the price from the start of April), upper daily Bollinger band and the 38.2% Fibonacci correction of the earlier ABC correction 2 from the middle of March. Given the moderately bearish sentiment affecting the Euro today – EURCAD is likely to extend the losses toward the next support level 1.52000 (which created the daily Hammer in the middle of July).