EUR/USD: Fading Resistance, Targeting 1.0815 for a Scalp

Technical Read

EUR/USD is clearly stuck, currently trading around 1.08431. We're challenging the top of the day's range and resistance at 1.0853. This zone has been a consistent ceiling. My entry for a short scalp is at 1.0846, aiming to fade this resistance. Simple is best.

Trade Logic

While the overall trend is sideways, the consistent struggle at 1.0853, combined with the slight negative 24-hour change, suggests a lack of bullish conviction. My stop loss is tight at 1.0858, just above the established resistance. I'm targeting 1.0815, which offers a clean run down past 1.0833 towards the 1.08 support. This is a textbook entry for a quick profit. Let it play out.