FX.co ★ berta.hill | EUR/USD

EURUSDHello everyone! If you are interested in the linear regression channel on the 15-minute chart, you will see that sellers are showing pessimistic sentiment and expect a decline. Bulls, on the other hand, continue to show confidence. The upper boundary of the channel at 1.16806 has been exceeded by the quote of 1.16831. The level of 1.17200 could be reached if the assumptions are correct. Sellers may pose difficulties for buyers at this level. There is a possibility to buy, and once the target is reached, I will most likely consider closing the position on a buy. I will reassess the market situation when it reaches the level of 1.17200. I will be observing the market reaction at this point to determine my further actions regarding entering the market.

Based on the information provided by the indicator on the chart, the following conclusions can be drawn: on the hourly chart, the linear regression channel is pointing downwards, indicating seller activity. The H1 channel takes priority over M15. If the market reaches the upper part of the channel, the level of 1.17200, it will signal a strong seller presence. The M15 regression channel currently indicates a corrective movement, which usually follows bearish activity. If the market holds at the level of 1.17200, it would be most reasonable to look for a selling entry point. The target in this case would be the level of 1.16518. However, it should be noted that the market situation could sharply shift in favor of a bullish trend if there is an active buyer at this level trying to change the current bearish trend.