1) EURUSD started its year 2011 with 1.2863 and touched its year high in month of April when traded at 1.4939. Till Jan to April it was above 20 days exp MA
2) Pair consolidated in between April to Aug and hovered around 20 days exp MA
3) After Aug Pair came below 20 days MA and stayed there but not broke the year low 1.2863 of Jan.
4) After half month recovery it again fell down below 20 days MA and till now (Dec 8) it is maintaining its bearish sentiment.
5)CONCLUSION: Euro will overcome the bearish phase only if it managed to trade above 20 days exp MA for more than six month with good OI and Volume.