EUR/USD: Shorting the Range Top. Pressure Building.

Market Outlook

EUR/USD is stuck in a sideways trend right now, trading around 1.08424. The day range is tight, 1.08311 to 1.08538. We've seen rejection around the 1.0854 resistance level repeatedly. While the overall trend is flat, the short-term bias leans bearish if we can't break that resistance. Dollar strength could be picking up, which supports a downside move for EUR/USD.

My Trade Plan

Levels are clear for a potential scalp short. I'm looking to enter EUR/USD short at 1.0845. This targets a retest of the daily highs and a rejection from the 1.0854 resistance. My Stop Loss is set tight at 1.0859, just above that resistance. I'm targeting 1.0811, aiming for a move towards the 1.0831 and ultimately the 1.08 support zone.

Execution

This is a clean setup for a quick