EUR/USD Long Play: Bouncing Off Key Support

Market Insight

EUR/USD is currently at 1.08436, caught in a sideways trend after a slight dip of -0.06% today. The day range has been tight, between 1.08339 and 1.08532. What I see is price holding strong around the 1.0834 support area, which looks key here. Despite some recent dollar strength, the pair is showing resilience at this level.

My Setup

This looks like a clean setup for a swing long. My entry is at 1.0839, just above that strong 1.0834 support. Stop loss is tight at 1.0816, keeping risk conservative. I'm targeting 1.0874, looking for a move towards the 1.09 resistance zone. The levels are clear on this one. Taking this trade.

Risk &