EUR/USD: Shorting the Range Top – Time for a Pullback

Market Overview

EUR/USD is currently stuck in a sideways grind around 1.08638. The daily range is tight, 1.08431 to 1.08846. We’ve seen a minor 0.13% move up over 24h, but the trend remains squarely sideways. My focus is on the top of this range.

The Setup

I'm looking for a short entry at 1.0869. We're bumping hard against key intraday resistance around 1.0885. Simple is best: fading the range top here makes sense. My stop is tight at 1.0894 – just above that resistance. This is a textbook entry for a potential drop.

Targets & Outlook

My target for this intraday short is 1.0807, heading towards the 1.08 support level. While