USD/CAD could be nearing the end of its retracement

Updated
A double top formed this month around a 50% retracement level on the daily charts ahead of its latest pullback. And it is interesting to note that the market tends to react around the 50% level.

The double top could actually be part of a 3-wave retracement, and that retracement could be nearing completion.

We saw a strong rally into the January high, hence the bias for an eventual continuation of that move. Bulls could look for a swing low to form around 1.3350 - which is near a high-volume node and another 50% level, and initially target the January highs - a break of which brings 1.36 into focus.

Note
We wished they all worked out this well, but so far it has been a textbook pullback into support (50% retracement and high-volume node) before prices accelerated higher.

It's not quite reached the 1.36 target, but it should at least be in profit enough to remove risk from the table.
Trade closed manually
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