EUR/USD: Hunting a Bounce towards 1.10 - My Scalp Setup

Market Outlook

EUR/USD is stuck in a sideways grind, currently trading around 1.08822. Day range 1.08339 — 1.09304 shows the recent chop. While the trend is sideways, we've seen a 0.3% move up in 24h, suggesting some underlying strength. I'm looking for a deeper retest before a push higher. The trend is your friend, and I'm watching for signs of upside continuation from a minor dip.

My Trade Setup

I'm looking for a scalp long on EUR/USD. Technicals show strong support around 1.085 and 1.0834. My entry is set at 1.0871, aiming to catch a bounce as market sentiment potentially shifts away from USD strength. Stop Loss at 1.0813, just below the 1.0834 support.

Targets & Risk

My Take Profit is aggressive at 1.1016.