I have been taking a look at the chart for US10y-German10y yield spreads and what that might mean for various markets. Currently at the widest spread since the start of 2000 so at important resistance. Also looks like it it running out of steam with MACD divergence and about to roll over. Could see a fall in spread from 2.55-2.60% of at least 20-30bps if chart pattern plays out. Not sure which leg drives this (German yields heading higher or US yields heading lower). But if spread has an implication for EUR/USD then we may be about to get a short squeeze.