EUR/USD: Sideways Grind, But I'm Eyeing a Dip Below 1.08! Intraday Short Idea

Market Scan: Sideways but Leaning Bearish

Alright, KoraFam! Checking in on EUR/USD today. We're currently chilling around 1.08319, pretty much flat over the last 24 hours, down just a tiny bit by -0.17%. The overall trend is sideways, no big moves, and we've been stuck in a tight day range between 1.08047 and 1.08591. The 1.0859 resistance level has been holding pretty strong, and we're seeing some struggle there. On the flip side, 1.0805 is acting as immediate support.

My Intraday Play: Short Opportunity

Given the struggle at resistance and the overall sideways chop, I'm eyeing an intraday short here. My entry would be around 1.0841 – waiting for a slight bounce up into that zone if possible, looking for a rejection. My stop loss is set at 1.0885, giving it enough room above the 1.0859 resistance. For the take profit, I'm targeting 1.0754. This lines up nicely with the 1.075 support level, which, if broken, could see a much larger move down. Fundamentally, the dollar has been showing some underlying strength lately on the back of decent economic data, which could give this short a little push