USDCADHello traders! On the M15 chart, the linear regression channel has turned upwards, indicating the efforts of buyers who are aiming to rise towards the level of 1.36201. There is an opportunity to buy. Of course, it would be better to wait until the H1 linear regression channel also turns north. Therefore, I will be cautious with my purchases. I am buying from the lower channel boundary at 1.35856. I am monitoring the sales, which may go below 1.35856; if this happens and is confirmed, I will stop buying. There is a high probability of continued selling according to the H1 trend. The buyer will not only try to work out the level of 1.36201 but will also attempt to consolidate above it to shift the trend in their favor. If they succeed, buying can continue.
Looking at the hourly chart, I see that the linear regression channel is pointing downwards, which is more important to me than the M15. This means that the bears are strong, and the fact that the M15 chart signal is indicating buys shows the presence of a strong buyer in the market. I need to wait for the price to reach the right place and then look for a sell from there. The place where I will look for sales is the upper channel boundary at 1.36201, from which I should sell to the lower channel boundary at 1.35435. Upon breaking the target level, further decline can be expected, but most likely after a top correction, as a bearish move will be established, and the bulls will try to regain their momentum. If the level of 1.36201 is breached by the bulls, it is a sign of bullish interest, making sales unprofitable, so they are canceled with a reassessment of the market situation.
