EUR/USD Short Setup: Waiting for the Drop!

Sideways Action & Key Levels

Morning, KoraFX fam! Hope everyone's had a decent start to the week. Taking a look at EUR/USD today, and it's been pretty range-bound lately, sticking to that sideways trend we've seen. We're currently hanging around 1.08654, with the day's range staying between 1.08423 and 1.08886. It's been a bit of a grind, but these zones are giving us some clear levels to work with.

My Intraday Short Idea

I'm eyeing up a potential short trade here on EUR/USD for an intraday move. Technically, we've got some decent resistance just above us at 1.0889, and I'm seeing a potential retest of that area or just below before a move lower. My entry is set for 1.0877, looking for a bit of a push up before it drops. On the fundamental side, a stronger USD narrative seems to be bubbling under the surface, which could give us that push downwards.
My stop loss is placed conservatively at 1.0933, just above the 1.09 resistance level to give it some breathing room. For the take profit, I'm aiming for 1.0794, which would take us below the 1.08 support. This looks juicy if the market plays ball! Easy money if you're patient, right? Always keen to hear what you lot are seeing out there, still learning the ropes myself! Let's go!