CL 04 12 (1 Min) 07.21.11

7/21/2011 FED Testimony (0400 HI time / 1000 EDT)
Forecast: n/a
Actual: n/a
SPIKE WITH 2ND PEAK
Started @ 100.40
1st Peak @ 101.12 – 0406 (6 min)
72 ticks

2nd Peak @ 101.32 – 0413 (13 min)
92 ticks

Reverse to 100.90 – 0420 (20 min)
42 ticks

Notes: FED Chair Bernanke Testifies before Senate Banking Committee on the implementation of the Dodd Frank Act. Caused a healthy spike, 2nd peak, and minimal reversal. After seeing the big green candle at 0413, I would close out on the 0414 as soon as it started retracing.