USDCAD - A Somewhat Confusing Homerun Trading Setups

Top Trading Idea of the Week #2 is on USDCAD, and it’s a two-part bullish opportunity. It begins with a potential bullish Gartley pattern currently setting up—already a strong technical signal. But what makes this idea particularly compelling is the broader market context. On the higher timeframe, USDCAD has been stuck in a massive consolidation since 2015, and while it isn’t technically forming an ascending triangle, the path of least resistance still appears to be to the upside.

Because of that, this may be a rare chance to aim for extended—or “home run”—targets. However, whenever I look to stretch targets, I always want to be aligned with the fundamentals as well. So in the video, we’ll walk through both the technical setup and the additional fundamental research required to build a confident, well-rounded bullish thesis.

If you have an fundamental insights that you'd like to share I'd love to hear about it below. And as always please leave any questions, comments or ideas there as well.

Akil