EUR/USD: Sideways Action, Short Setup Emerging

Market Context

EUR/USD is stuck in a sideways trend, currently trading around 1.08278, down slightly by 0.2% in the last 24 hours. The day range has been tight, between 1.07945 and 1.08611. We've seen resistance around 1.0861 hold up so far.

Technical Analysis

My charts show a clean setup for a potential swing short. I'm looking to enter around 1.0844, just below that 1.0861 resistance. The levels are clear: my stop loss would be at 1.0924, safely above the 1.09 resistance. For profit, I'm targeting 1.0724, eyeing the 1.075 and 1.0795 support zones. This is a conservative play within the current range.

Fundamental Outlook

While technicals drive this setup, the