{"id":312039,"date":"2024-05-29T05:40:43","date_gmt":"2024-05-29T00:10:43","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=312039"},"modified":"2024-05-29T05:40:43","modified_gmt":"2024-05-29T00:10:43","slug":"eur-usd-churns-chart-paper-but-makes-little-progress-ahead-of-wednesdays-german-cpi-inflation-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-churns-chart-paper-but-makes-little-progress-ahead-of-wednesdays-german-cpi-inflation-crypto-news\/","title":{"rendered":"EUR\/USD churns chart paper but makes little progress ahead of Wednesday\u2019s German CPI inflation &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>EUR\/USD failed to capture 1.0890 in Tuesday\u2019s early bull run.<\/strong><\/li>\n<li><strong>1.0860 remains a key consolidation point for the Fiber.<\/strong><\/li>\n<li><strong>German CPI inflation due Wednesday, US GDP and PCE inflation loom ahead.<\/strong><\/li>\n<\/ul>\n<p>EUR\/USD rose to an intraday high near 1.0890 on Tuesday before market flows dragged the pair back down to familiar levels near 1.0860, and the pair is holding on-balance as Euro traders head into a fresh print of German <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\" data-fxs-autoanchor=\"\">Consumer Price Index<\/a> (CPI) inflation. Key US data hides just around the corner with Gross Domestic Product (GDP) and Personal Consumption Expenditure (PCE) Price Index inflation due on Thursday and Friday, respectively.<\/p>\n<p>German CPI inflation in May is expected to ease to 0.2% MoM in May, down from the previous 0.5% as investors hope CPI inflation in key European economies will turn around and continue to ease in time to push <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/ecb\" data-fxs-autoanchor=\"\">the European Central Bank (ECB)<\/a> into a quarter-point cut at the central bank\u2019s upcoming rate call in June.<\/p>\n<p>US investors have been fighting an uphill battle trying to time when the Federal Reserve (Fed) will deliver a first rate cut. Back in December, markets had priced in upwards of six cuts of at least 25 basis points apiece, with the first quarter-point-minimum cut expected in March. Today, rate markets are pricing in roughly-even odds of a quarter-point cut to come in September, with hopes of two total cuts in 2024 withering on the vine.<\/p>\n<p>US Annualized Q1 Gross Domestic Product (GDP) slated for Thursday is forecast to ease to 1.3% from the previous 1.6%. Friday\u2019s US PCE Price Index inflation on Friday is expected to hold steady at 0.3% MoM.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD technical outlook<\/h2>\n<p>EUR\/USD is cycling in familiar technical congestion, but a hidden bullish divergence of the Moving Average Convergence-Divergence (MACD) implies the pair could be primed for a push higher if bidders are able to springboard off of the 200-hour Exponential Moving Average at 1.0844.<\/p>\n<p>However, the 200-day EMA at 1.0804 is acting as a price magnet, threatening to pull the pair down, and daily candlesticks are drifting into familiar middle territory. The daily MACD is also easing back into directionless territory.<\/p>\n<h2 class=\"fxs_headline_medium\">EUR\/USD hourly chart<\/h2>\n<h2 class=\"fxs_headline_medium\">EUR\/USD daily chart<img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/EUR_USD-638525327533883424.png\" style=\"width: 1723px;height: 801px\" \/><\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/USD failed to capture 1.0890 in Tuesday\u2019s early bull run. 1.0860 remains a key consolidation point for the Fiber. German CPI inflation due Wednesday, US GDP and PCE inflation loom ahead. EUR\/USD rose to an intraday high near 1.0890 on Tuesday before market flows dragged the pair back down to familiar levels near 1.0860, and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,842,257,825,433,255,250,252,247,253,249,256,254],"class_list":["post-312039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-ecb","tag-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=312039"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312039\/revisions"}],"predecessor-version":[{"id":312060,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/312039\/revisions\/312060"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7392"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=312039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=312039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=312039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}