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EUR/CAD Retreating After a Double Top

A couple of sessions ago, I noted that the EUR/CAD is developing a double top and might retreat in the short-term, though the medium-term outlook would still b bullish. As we head into the weekend, traders have completed the double top, and we are seeing a bearish correction. 

EUR/CAD 4H Chart 8/28
(click to enlarge)

As we can see in the 4H chart, after the double top was completed price fell further and then stalled around 1.4815. But after a rejection at 1.50, price action looks bearish again. This might be the bearish confirmation after the double top opening up the 1.4614 and 1.4381 pivots as the next 2 bearish targets. 

From the daily chart, we can see that these 2 bearish targets do not violate the prevailing bullish trend. 

EUR/CAD Daily Chart 8/28
(click to enlarge)

In fact, the strongest bearish outlook now can be down to the 1.42 area, which at represents a support/resistance area and a rising trendline. In fact, if price finds support around here, we should consider the bullish outlook.