EUR/CAD made a lovely move down and broke the diagonal. We're going vertical at the moment which suggest we are in a wave 3. Pairs like USD/CAD and NZD/CAD are also doing a good job looking bearish.
But the pair could be near the first bump on the road, that trendline on the daily chart could result in a 3-wave rally back up. In that case we are still in wave 2 and this move down is a X-wave.
However, I think - regarding the time consumed in corrective movement- the most likely option is that wave 2 is complete, break the trendline and this is already wave 3.
Daily:
