EUR/USD Intraday Short: Levels are Clear

Market Outlook

EUR/USD currently trading at 1.08255, down 0.23% in 24 hours. The market is generally sideways, ranging between 1.07886 and 1.08623. However, with the current price sitting closer to the day's high of 1.08623 and the general sentiment for dollar strength holding, I'm eyeing a short-term bearish move. The trend is your friend, even within a range, and I see potential for a dip.

Technical Setup

I'm looking for a retest before taking this trade. Entry at 1.0834 makes sense, just under the immediate resistance at 1.0862. My Stop Loss is tight at 1.0878, protecting against a break above that resistance. The downside looks clean with initial support at 1.0789 and 1.08.