Based on this analysis:
The rising channel within the context of a downtrend suggests a potential bearish continuation pattern.
Positive US news releases could reinforce the downtrend by strengthening the US dollar and causing downward pressure on the EUR/USD pair.
Traders may consider selling the EUR/USD pair if it approaches the upper trendline of the rising channel, especially if accompanied by bearish reversal signals or positive US economic news.
As always, it's essential to incorporate risk management techniques, such as setting stop-loss orders and managing position sizes, to mitigate potential losses in case the trade moves against your prediction. Additionally, monitoring price action and adjusting your strategy based on market developments is crucial for successful trading.
The rising channel within the context of a downtrend suggests a potential bearish continuation pattern.
Positive US news releases could reinforce the downtrend by strengthening the US dollar and causing downward pressure on the EUR/USD pair.
Traders may consider selling the EUR/USD pair if it approaches the upper trendline of the rising channel, especially if accompanied by bearish reversal signals or positive US economic news.
As always, it's essential to incorporate risk management techniques, such as setting stop-loss orders and managing position sizes, to mitigate potential losses in case the trade moves against your prediction. Additionally, monitoring price action and adjusting your strategy based on market developments is crucial for successful trading.