EUR/USD: Fading the Dip as Institutional Flow Eyes Key Support

Technical Setup & Price Action

Alright team, let's talk EUR/USD. We've seen a pretty consistent sideways trend lately, but today's price action, with a -0.26% dip, pushing the pair down by -0.00286, has many leaning bearish. The current price sits at 1.08214, well off the day's high of 1.08643, and flirting with the lower end of the day range, which saw a low of 1.07784. This move looks like a classic overextension to me, catching a lot of late short entries.
I'm eyeing a long entry around 1.0808. This level is just above the intraday support we saw tested earlier at 1.0778. The market is currently pushing into an area where I expect to see some institutional order flow step in, particularly as we approach the 1.0778 - 1.075 support zone. It feels like the consensus is pushing for a deeper dive, but I see signs of a potential bounce here. We're testing a key level, and the data suggests