Thus, as expected in yesterday's article on EUR/USD, the main currency pair of the Forex market continued to move in a southerly direction and fell to the level of 1.2130, where there is a strong support level. We will move on to the technical part of the review a little later, but for now, we will briefly talk about important events that are taking place in the world, and about macroeconomic statistics.

The main world event is the real persecution of the outgoing 45th US President Donald Trump. Instead of letting a losing presidential candidate walk away, Democratic leaders are eager to impeach him. What's the point? If Trump is impeached, he will no longer be able to participate in the presidential election. However, if you do not count the very difficult character and manner of behavior of Donald Trump, he did quite a lot of useful things for his country compared to his predecessors. It is unlikely that the retiree Biden will be able to do something like this. As for the US population, it turned out to be split into two camps, and this situation has also not been observed for a long time.

This week, there will be a lot of speeches from monetary officials from the European Central Bank (ECB) and the US Federal Reserve (FRS). Among other things, the heads of both the world's leading central banks, Christine Lagarde and Jerome Powell, will deliver their speeches. The release date and time can be found in the calendar itself. From the current week's macroeconomic reports, I recommend paying attention to the US consumer price index, which will be published tomorrow, at 14:30 London time.

Daily

As already noted at the beginning of the article, at yesterday's trading, the main currency pair fell to the support level of 1.2130, which stopped the further movement of the quote in the south direction. Today, at the time of writing, the pair is trying to correct for yesterday's fall and is trading with a very slight increase in the area of 1.2155. There is a strong feeling that the correction will be insignificant and short-lived, after which the euro/dollar will continue to implement a downward scenario. Judging by the daily chart, the maximum that the euro bulls can expect is a rise in the rate to the level of 1.2200. In addition to the fact that this level itself is quite strong technically, there is also a blue Kijun line of the Ichimoku indicator, which will significantly strengthen the resistance in the area of 1.2200. In turn, there is a red Tenkan line at 1.2240, which will also try to prevent further movement of the quote in the north direction. Thus, on the daily chart, the resistance and the zone for sales is 1.2200-1.2240.

H1

If you go to the hourly chart, then the nearest sales can be tried from 50 simple moving averages, which acts as the nearest resistance and passes at 1.2185. At 1.2209 and 1.2232, there are 89 and 200 exponential moving averages, respectively. In my personal opinion, in this situation, the main trading recommendation should be considered sales after the rise of EUR/USD in the price area of 1.2185-1.2240. To open buy trades, you need to wait for the reversal candle signals on the daily, four-hour, and hourly charts. At the same time, it should be remembered that the older the timeframe, the stronger the signal should be.