Trading Video: EURUSD Back to 1.3500, Dow Closes at a Record High
• A second day of Yellen testimony didn't bring surprise, but it did seem to foster a USD and risk rebound
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Despite a mix of data that offered a distinct favor for the sterling, GBPUSD failed to overtake 1.7200. Meanwhile, a more mixed picture for EURUSD wouldn't keep it from pulling into 1.3500. Both majors are at key technical levels that no doubt have FX traders projecting serious trend developments, but the analysis isn't adding up favorably. Scheduled event risk, underlying fundamental themes, general volatility conditions are not solidifying into the same mold that technicals alone seem to take. With a number of great looking technical opportunities on hand, we discuss the bigger picture for these trade setups in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.