EUR/USD: Short Play as Sideways Chop Continues - Let's Trust the Process!

EUR/USDShortSwing20h ago0 views

Trade Setup

Entry Price

1.0849

Stop Loss

1.0861

Take Profit

1.0832

Risk : Reward

1 : 1.42

RiskReward

The EUR/USD Grind & My Short Bias


Alright, folks, George here from Birmingham, checking in on EUR/USD. It's been a bit of a grind lately, stuck in a proper sideways trend, as the market data shows. We're currently sat around 1.08468, not far from the high of today's tight range (1.08516). The 24h change is barely a blip at -0.03%, telling you all you need to know about the indecision.
My charts are hinting at a short here, looking for a move back down. We've got pretty strong resistance kicking in around 1.0852. Given the current price action, I'm setting up a swing trade.

The Trade Setup: Keeping It Tight


My plan is to go short EUR/USD around 1.0849. I'm keeping my risk tight, as always, with a stop loss just above the recent highs at 1.0861. This gives us a clear invalidation point if price decides to push higher and breach that 1.0852 resistance properly.
For the take profit, I'm eyeing 1.0832. This targets a dip towards the lower end of today's range (1.0842) and potentially a bit lower, touching on that 1.0842 support. Fundamentally,

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