The possibility we could see price bounce off the support, to resistance and 0.382 Fibonacci level before the downtrend continues.
the entry point would be after:
Confirmed rejection at resistance and the 0.382 fib level (0.9050)
Bearish confluence among indicators (MACD, RVI)
Always in line with 4H EMA and the overall trend of currency (bearish)
With oil prices predicted to rise we can see that EURCAD has recently finished bearish retracement so it is a high probabilty that price is decline as demand for the loonie increases, driving price down.