Market has been holding long dollar positions for awhile now; since May of last year and the fundamentals have not changed enough to say they are wrong.
There was slight consolidation after Yellen's testimony but the instinct is still to go long on the dollars. All others are "tired" and the US seems to be the one kicking back to life.
In any case, euro has consolidated into a nice twin peak. Well actually it has made 3 attempts at the resistance around 1.1065 and is now below the neckline.
Worth a shot going short the euro near 1.0720 with stop above 1.0780. Let's see if 1.0470 is a strong enough magnet for this leg.
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