EUR/USD: Navigating the Sideways Chop – Intraday Play

What's up, KoraFX fam! Adaeze here, checking in from Abuja. Let's talk EUR/USD today. The pair is definitely giving us some range-bound action, sitting right at 1.08704 after a slight 0.19% move today. The day range has been tight, from 1.08398 up to 1.0901. Classic setup right here for some intraday plays, even if the overall trend is sideways.

Technical Read: Range Play Potential

Looking at the charts, EUR/USD is currently struggling with resistance around the 1.0901 mark – which was our daily high. We also have that psychological 1.09 level and then 1.095 above that. My eyes are on a potential short entry around 1.0885, banking on a rejection from these resistance areas. It's not a strong directional move, but more of a fade from the top of the range. We've got clear support levels at 1.084 and 1.08, with 1.075 as a stronger area if a breakdown occurs. My take profit is set at 1.0775, which lines up nicely just above that 1.075 support. My stop loss is conservative at 1.0958, giving it some