EUR/ILS may fall 201 - 300 pips

4.0714 is our pivot point.

Our preference

As long as 4.0714 is resistance look for 4.0192.

Alternative scenario

Above 4.0714, look for 4.0881 and 4.0981.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.0511 and 4.0511).

Supports and resistances

4.0981 **

4.0881 *

4.0714 **

4.0648

4.0492 last

4.0291

4.0192 **

4.0092 *

3.9993 **

Number of asterisks represents the strength of support and resistance levels.