EUR/USD: Waiting for the setup. Let it play out.

Market View

EUR/USD is stuck in a sideways grind, bouncing between 1.0839 support and 1.0904 resistance. Current price 1.08715. It's up 0.2% on the day, but still within that tight 1.08393 — 1.09037 range. Simple is best: we need a clear move.

The Setup

My focus is long here. Aggressive scalp entry at 1.0864. This targets a push through current resistance. Stop loss tight at 1.0825, just below today's low and that 1.0839 support. Take profit is ambitious at 1.0961, past the 1.095 resistance. Textbook entry for a breakout trade if the momentum kicks in.

Trend Watch

While the overall trend is sideways, I'm seeing early signs of potential USD weakness creeping in, which could fuel the Euro higher. We're looking for that breakout above 1.0904. The trend is your friend, but sometimes you gotta catch it shifting.