EUR looking oversold on the crosses
- EUR/GBP- the whole world seems to be bearish, myself included, and we are nearing very significant and proven support at .7750;
- EUR/CAD- also getting very close to significant support levels near 1.4000;
- EUR/AUD- slightly more mid-range in a 1.42/1.46 consolidation but you can argue the case that a bottoming formation is developing on the daily chart;
- EUR/JPY- made fresh highs on the daily chart at the end of last week.
With no policy developments to come from the ECB for quite a while, and with the market very bearish and very short, could we get a nasty short squeeze in the EUR crosses?