EUR/USD: Short Opportunity Within Sideways Structure

Market Context and Technical Analysis

The EUR/USD pair is currently trading at 1.08681, reflecting a modest 0.17% gain over the last 24 hours. The daily range has been confined between 1.0841 and 1.08952, which clearly indicates a persistent sideways trend. From a technical perspective, the structure is clear: we observe robust resistance around the 1.0895 and 1.09 levels, with immediate support at 1.0841, followed by stronger support at 1.08 and 1.075. My analysis suggests that the pair is likely to continue respecting these established boundaries in the near term. I am looking for a rejection from the upper end of this range.

Trade Setup and Risk Management

Given the current market dynamics, I am initiating a swing trade with a short direction on EUR