EUR/USD Short Play: Resistance Holds, Looking for a Drop

Market Scan

EUR/USD is stuck in a sideways grind, currently at 1.08219. We've seen a -0.26% dip over 24h, suggesting underlying weakness. The pair tested 1.0864 earlier, a key resistance level, and got rejected. This tells me the bulls are losing steam up here. "The trend is your friend," even if it's a short-term rejection.

Trade Setup

My play is a scalp short. Entry at 1.0832, capitalizing on that resistance holding. Stop Loss is tight at 1.0882 – if it breaks above 1.0864 and pushes towards 1.09, I'm out. Looking for a move down to 1.0706 for Take Profit, eyeing the 1.078 and 1.075 support levels along the way. Expecting some follow-through from the recent USD strength