The short is based on two aspects.
Technical : The rejection of the weekly volume
Fundamental : a positive view on the market liquidity of 2020 and the lower interest rate.
EURCAD BUY STOP setup as the price reaches the 4HR highest volume price. However, the TP is set at the monthly highest volume price where rejection is expected. A BUY STOP order can be set to ensure the high momentum of the wave.