During the European session, EURUSD(eu) is affected by the Greek distress and on US session Obama tango with the House of Representatives.
During the early session today, there was a golden cross between the 10 MA and 20 MA, and then price cross over the 50 MA from below on 60 MTF chart but unfortunately price than went flat.
THE eu also managed to penetrate the downward sloping channel.
However, eu has managed to cross the 1.41 and expecting to challenge the 1.415 level.
My first entry is at Bar 1- a PB after eu has failed to return above the 20 MA. Taking a sell position with target at 5 GMT (8:00 Broker).
A morning star doji and almost a PB, stop and reverse by short position for a buy. Position taken on indicators reversing from the extreme. About 1 ½ hour later , a golden cross with both MA sloping upward. A very bullish sign.
