EUR/USD: Short Opportunity as Resistance Holds Firm

Market Context and Technical Analysis

The EUR/USD pair is currently trading within a tight range, exhibiting a clear sideways trend around its current price of 1.08434. Observing the recent price action, the pair has repeatedly tested and failed to decisively break above the 1.0853 resistance level, which also marked the upper bound of today's range at 1.08533. This confluence of a daily high and a established resistance suggests significant selling pressure at this zone. The overall structure indicates that bears are actively defending this ceiling, despite the modest 24-hour change of -0.06%.

Trade Setup and Risk Management

Given this technical resistance, I am looking for a short opportunity. My entry is set at 1.0847, anticipating a slight retest of the resistance area before a downward move. The stop loss is strategically placed at 1.086