The narrative for this evening's set up goes as follows:
As of Tuesday Aug 9, 2022 8:18pm EST: EURUSD only gave us 43 PIPS of the 88 PIP ADR Range.
From this simple assessment we know we have another 44 Pips to go before EUR hits that 88 Pip Extreme.
The DXY has opened bullish but left a small Gap which it may retrace into soon and then head north.
The fundamentals all point to the EURUSD dropping below parity levels this week. Vs the DXY which is looking very Viral and STRONG:) Like a young buck.
Therefore a SHORT on EURUSD is a very high probability trade set up given all of the confluences I listed.
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