From 1.6 top eurcad
dropped almost 600 pips but the drop is not impulsive and has a very clear corrective move format. Also if we draw a Fibonacci from 1.51 support we can clearly see that this old resistance zone
, now support, is confluent with 61% retracement and we can very well be in a "measured move" pattern.
That being said I will look for buy opportunities for at least 1.57 target for a swing trade.