Bearish Pin Bar Trade about to trigger on EURCAD daily chart

The EURCAD daily chart is in a clear downtrend. The market has retraced back up to re-test a previous swing high resistance level within the trend. Price respected the resistance level, rejected moves into higher price sand forced the market to close below it's open price for the day - creating a bearish pin bar.

The market is now breaking the lows of the pin bar, confirming the bearish momentum. It's likely we will see lower prices develop off the back of this setup.