EUR/USD: Short Opportunity as Sideways Trend Falters

Market Scan

EUR/USD trading at 1.08302, down 0.18% today. Price is caught in a sideways trend, but the momentum is clearly to the downside within the day's range of 1.08004 - 1.08599. The 1.086 resistance level is holding firm, signaling potential weakness.

Intraday Short Setup

My technical analysis points to a short play. I'm looking for an entry at 1.0837, catching a retest before the next leg down. Stop Loss tight at 1.0873, just above that key 1.086 resistance. Target set aggressively at 1.0748, aiming for the 1.075 support zone. Broad USD strength undertones could provide the catalyst.

Outlook

The trend is your friend, even in sideways markets – we're following the intraday bearish pressure. A break below 1.08 support would confirm the move towards our target. Watching closely for entry hit.