EUR/USD: Resistance Holds, Looking for the Drop
EUR/USDShortSwing4h ago4 views
Trade Setup
Entry Price
1.0843
Stop Loss
1.0934
Take Profit
1.0707
Risk : Reward
1 : 1.49
RiskReward
Technical Read
EUR/USD is currently at 1.08248, stuck in a sideways grind. We've seen resistance at 1.0863 consistently reject moves higher, pulling back from the day's high of 1.08626. The 24h change of -0.23% confirms the downside pressure is real. My charts show a strong setup for a short as price fails to break above that key resistance.
The Setup
My view is we'll see further downside. I'm looking for a short entry around 1.0843. With potential US dollar strength brewing, this aligns with the technical rejection. Stop Loss is set at 1.0934, aiming for Take Profit at 1.0707, just below the 1.075 support level. Textbook entry here. Let it play out.
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