The dollar steadied against major currencies on Monday as traders looked to more data for a gauge on the health of the global economy and the Federal Reserve's annual Jackson Hole retreat for guidance on the outlook for U.S. monetary policy. Sentiment for the greenback has improved somewhat due to supportive data on business activity and home sales, but there are still concerns that additional monetary easing may be necessary to keep economic growth on track. Currencies showed little reaction to U.S. authorization of a coronavirus treatment that uses blood plasma from recovered patients as many investors are waiting for definitive news of a credible vaccine.
Overall the EURUSD market is bearish with a downside breakout likely sending trade to attack a 1.1754 weekly low. A close under 1.1730 is very bearish.