Lockhart then and now....

But last week, the EURUSD tumbled?

On August 4th, Fed's Lockhart - more of a dove in the past - turned hawkish. His comments sent the EURUSD from around 1.0950 to 1.0880 by the close that day.

Today, some more hawkish comments about a September liftoff and the EURUSD falls from 1.0997 to 1.0988 but has reversed course and is now trading at new highs for the day at 1.1020 as shorts in the EURUSD get squeezed.

The lesson? Don't trust a summer time market.

The 100 day MA is at 1.1031. That is the next key target above.