Bearish Outlook: EurCad's Potential 500 Pip Drop Ahead

Since the beginning of 2023, EurCad's price has been trading above 1.4250, a level that became a very important line in the sand, with a test in January, February, and back in June,
Recently, the price came back to this level and after only one day of consolidation, yesterday broke under.
This is a very important break for the pair and opens the door for further losses.
As we can see from the chart, yet another important break happened at the beginning of the month- The ascending trend line support- and also the price action from the past 12 months resembles an H&S.
All in all, I expect a drop of around 500 pips in the coming months and a positional trader could take advantage of such a trade.