USDCAD formed a nice inverted head & shoulder on the D1/4H/1H charts. Most of this year the pair's consolidated between zones. This recent move started near the top of the zone 1.31307 and the impulse ended near the top of the high zone 1.34669, breaking the consolidation. Looking for price to complete a pullback and will look for a long entry. A 50% retracement would be near 1.32999, the top and bottom of the recent zone are line up near the 61.8 (1.33412) and 38.2(1.32654), I'll be looking to entries at these areas which also line up with the neckline of the head & shoulders pattern. Measuring this impulse move is 338.2 pips, taking a trade from either of these levels, I would look for the full measure of the move, this also lines up with the January highs.
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