EUR/USD Short Setup: Waiting for a rejection from resistance – Easy money if you're patient!

EUR/USD Sideways Grind & Technicals

Hey KoraFX fam! Taking a look at EUR/USD today, it's been pretty much a sideways grind, trading around 1.08523 with a tiny 0.02% change in the last 24 hours. The daily range has been tight, from 1.08488 to 1.08558, telling us the market isn't really picking a strong direction yet. From a technical standpoint, we're currently sitting just under the immediate resistance at 1.0856. This level has been a bit of a sticky point, and I'm watching for a potential rejection here.

My Swing Trade Plan

Given this sideways action and the proximity to that resistance, I'm eyeing a short swing trade. My plan is to enter at 1.0854, looking for the pair to push up a touch more into that resistance zone before pulling back. My stop loss is set quite tight at 1.0862 – gotta keep that risk conservative, you know? For the take profit, I'm targeting 1.0841. This level is just below the immediate support at 1.0849, giving us a decent risk-reward if the rejection plays out.

Why Short? & Keeping it Objective

While the overall trend is sideways, I