"If I had to take a guess at what we've been seeing intraday and based on some quick checks of charts, I'd say the Euro is getting ready to make another run at the major resistance zone that has separated bearish confirmation of price movement from a short squeeze.
This run may be getting ready to start soon, perhaps overnight, perhaps sooner. Of course a short squeeze in the Euro would drop the dollar and be bullish for the market."
Interestingly, the Euro is doing exactly that, brushing off the Cyprus news and rising yields in Italy and Spain.
Suddenly the Euro isn't so far from that dividing line I mentioned in the post from yesterday linked above.
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