USDCADWishing everyone a great mood! The linear regression channel on the M15 chart is turned downward, which emphasizes the dominance of sellers in the market. The market is moving south toward the 1.39930 level. Once this level is reached, an upward correction is possible, since the channel volatility will be exhausted on this chart. It is preferable not to sell near the lower boundary of the channel, but to wait for a pullback to the upper part of the channel at 1.40141. This will help reduce losses. The slope angle of the channel determines the strength of the seller in the market: the steeper it is, the stronger the move. A slight slope indicates that the sell-off is in the early stage of formation.
On the hourly chart, the linear regression channel is pointing down, indicating the strength of the seller. The channel on H1 is the main one, and M15 is auxiliary. On both charts, the channels are directed to the south. It is preferable to look for shorts, because buying means going against the trend, which is more likely to bring a loss than a profit. If the 1.40141 level does not stop the buyer, then the rise will most likely continue. The bulls will grow to the upper part of the channel to the 1.40363 level, from which it is worth looking closely at selling. Shorts from this area will look very interesting, since a pullback on the hourly chart will occur. After that, the bears will show their activity with a move toward the lower part of the channel at 1.39694. At that point, the channel volatility will be exhausted and it will be necessary to hold off on selling until the bulls retrace part of the move.
