EUR/USD Short Play: Resistance Holding Strong

Market Outlook

EUR/USD is hugging resistance at 1.0855. Current price 1.08521, staying tight within the 1.0849 – 1.08552 day range. We're in a sideways trend, but the lack of conviction for a clear break higher is key. Looks like the recent push is struggling to find follow-through.

Intraday Setup

I'm looking at a short here. Entry at 1.0853, just under that 1.0855 resistance. Stop Loss is tight at 1.0857, keeping risk contained. Take Profit targeting 1.0844, aiming for a move down past the 1.0849 support level. Simple is best when the market is indecisive.

Why the Short Bias?

The rejection around 1.0855 is a clear technical signal. While the trend is sideways, short-term momentum looks to be fading at this level. If we see some renewed USD bid, that 1.0849 support could give way, opening up a run to 1.08. Let it play out.