{"id":103015,"date":"2020-08-10T09:18:38","date_gmt":"2020-08-10T08:18:38","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=103015"},"modified":"2020-08-10T11:24:16","modified_gmt":"2020-08-10T10:24:16","slug":"103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\/","title":{"rendered":"EUR\/USD Lose Bullish Momentum As Dollar Fights Back"},"content":{"rendered":"<ul>\n<li>EUR\/USD without a direction.<\/li>\n<li>Trades flat at 1.1795, lost 0.78 Percent on Friday.<\/li>\n<li>The decline confirms a daily-chart bearish reversal.<\/li>\n<\/ul>\n<p>EUR\/USD suffered its largest single-day decline, since April 2, on Friday on the back of the dollar-rebound.<\/p>\n<h3>Dollar Selling Overdrawn<\/h3>\n<p>Morgan Stanley has turned Neutral on the dollar from the earlier bearish stand, as the greenback touched the most oversold levels in the last four decades, according to a Reuters report.<\/p>\n<p>The dollar index &#8211; tracks the greenback against a basket of currencies, had touched 92.52 last week &#8211; a 26 year low on record\u2014a far cry from the 102.99 in March. The index is now at 93.34, after a bounce off the multi-decade low.<\/p>\n<p>Short-term technical measures like the 14-day relative strength index and slow stochastic are flashing oversold conditions. A bounce-back is expected on the currency with the global equities looking stretched in their current rally.<\/p>\n<h3>US Stimulus Progress<\/h3>\n<p>President Trump on Saturday went ahead with his promise of an executive order to circumvent the Congressional deadlock over the stimulus package. The executive-order provides for 400 dollars unemployment benefit per week; dollar 200 short of the earlier package which had expired recently.<\/p>\n<p>Both Democrats and Republicans are willing to resume the stimulus package but had big differences over the deal terms. The US House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin have both indicated their readiness to resume stimulus negotiations.<\/p>\n<p>JP Morgan has warned that the US economy will suffer from higher unemployment, lower consumer spending and GDP downgrades if the White House postpones negotiations to a later date after the Presidential Elections.<\/p>\n<div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000061;border-radius:3px;max-width:none\"><div class=\"su-box-title\" style=\"background-color:#071894;color:#FFFFFF;border-top-left-radius:1px;border-top-right-radius:1px\">USD Index Today - last 90 days<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:1px;border-bottom-right-radius:1px\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f6e52ce6a9c3da7c4f5ae71144d57712.png\" alt=\"\" width=\"800\" height=\"348\" class=\"aligncenter size-full wp-image-103041\" srcset=\"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f6e52ce6a9c3da7c4f5ae71144d57712.png 800w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f6e52ce6a9c3da7c4f5ae71144d57712-300x131.png 300w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f6e52ce6a9c3da7c4f5ae71144d57712-768x334.png 768w, https:\/\/currencylive.com\/news\/wp-content\/uploads\/2020\/08\/f6e52ce6a9c3da7c4f5ae71144d57712-696x303.png 696w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div style=\"font-size: 75%; line-height: 1.5;\"><div class=\"su-expand su-expand-collapsed su-expand-link-style-default no-margin\" data-height=\"0\"><div class=\"su-expand-content su-u-trim\" style=\"color:#333333;max-height:0px;overflow:hidden\">Currency Index charts show the <strong>strength of a single currency<\/strong> based on a basket of foreign currencies. This is done using a weighted mean (an average) of the 5 largest routes from that source currency and their daily FX rates. You can explore <a style=\"color:#0088FF\" href=\"\/exchange-rate\/\">live exchange rates here<\/a>.<\/div><div class=\"su-expand-link su-expand-link-more\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">What does this show? <\/span><\/a><\/div><div class=\"su-expand-link su-expand-link-less\" style=\"text-align:center\"><a href=\"javascript:;\" style=\"color:#0088FF;border-color:#0088FF\"><span style=\"border-color:#0088FF\">Show less<\/span><\/a><\/div><\/div><\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD without a direction. Trades flat at 1.1795, lost 0.78 Percent on Friday. The decline confirms a daily-chart bearish reversal. EUR\/USD suffered its largest single-day decline, since April 2, on Friday on the back of the dollar-rebound. Dollar Selling Overdrawn Morgan Stanley has turned Neutral on the dollar from the earlier bearish stand, as the [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[],"class_list":{"0":"post-103015","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD Lose Bullish Momentum As Dollar Fights Back - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"EUR\\\/USD Lose Bullish Momentum As Dollar Fights Back\",\"datePublished\":\"2020-08-10T08:18:38+00:00\",\"dateModified\":\"2020-08-10T10:24:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/\"},\"wordCount\":328,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100644-gbp-eur-german-data-lift-eur.jpg\",\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103815-eur-usd-lose-bullish-momentum-as-dollar-fights-back\\\/\",\"name\":\"EUR\\\/USD Lose Bullish Momentum As Dollar Fights Back - 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