EUR/USD Short: Targeting Support in Sideways Grind

Market Read

EUR/USD is stuck in a sideways chop, currently at 1.08395. We've seen a slight dip of -0.1% over 24h, indicating some underlying bearish pressure despite the consolidation. Resistance is clear at 1.0855, just above the day's high of 1.08552. The trend is my friend, and even in a range, short-term momentum looks to favor a push lower.

My Setup

I'm taking this trade short on EUR/USD. The levels are clear.
* Entry: 1.0843
* Stop Loss: 1.0862 (just above that 1.0855 resistance)
* Take Profit: 1.0796
This is an intraday play. We're rejecting near the top of the recent range, and with the slight negative sentiment (fundamental factor: general USD strength holding up), a drop to 1.08 support, and potentially 1.0796, looks like a clean setup. Let's see if we can break below the 1.0824 intraday support.