FX.co ★ EUR/USD

EURUSDHello traders! The linear regression channel indicator shows that the seller remains active and strong, as the channel slope indicates a southern direction. I am considering selling starting from the upper channel boundary at 1.17893, where sellers' positions are likely accumulated. The movement will continue downwards to the lower channel boundary at 1.17655. Buyers may show themselves from the lower boundary, aiming to return to the selling zone. Their goal will be to surpass the level of 1.17893 and resume the trend on the H1 chart. If there is a consolidation above the level of 1.17893, the opportunity to search for sales will be canceled, and the situation on the M15 chart will need to be reassessed.

Unlike the M15 chart, the hourly linear regression period shows an upward trend, emphasizing buyer activity. Buyers show weakness against sellers who managed to break the level of 1.17764, indicating a strong bearish interest in the market. This may be the result of a strategic move by the seller aimed at changing the direction of the H1 channel downwards. Thus, the bullish trend will be interrupted, and sellers will start to dominate, reflected in the channel direction indicating a bearish trend. A strong bearish player will aim to reach the level of 1.16808 to achieve their goals. If the conditions on the M15 chart are met, when the market rises above the levels of 1.17893 and 1.17764, the bulls will resume their trending movement.