EUR/USD Navigating the Sideways Channel: A Tactical Short Opportunity

Technical Structure and Immediate Levels

The EUR/USD pair currently trades at 1.08587, having seen a modest 0.08% increase over the past 24 hours. My analysis indicates that the overall trend remains sideways, as evidenced by the price action oscillating within established boundaries. The daily range from 1.08456 to 1.08718 underscores this consolidation. Immediate resistance is clearly marked at 1.0872, with further levels at 1.09 and 1.095. On the support side, 1.0846 is the first line, followed by 1.08 and 1.075. The structure is clear: we are operating within a well-defined range. My current trade setup is a tactical short, initiated with an entry at 1.0863. This positioning aims to