Fading EUR/USD's Sideways Grind: Setting Up a Short from Key Resistance

Technical Rejection at the Upper Band

Looking at EUR/USD, we're currently hovering at 1.08534, stuck in a tight sideways range. The daily high is 1.08584, directly aligning with our immediate resistance level at 1.0858. This is not arbitrary. We've seen multiple attempts to break higher in this zone, only for price to be firmly rejected. The market is consolidating, yes, but often these tight ranges at resistance levels precede a move lower, especially when considering the lack of fresh bullish impetus. My entry for a short at