EUR/ILS may fall 198 - 286 pips

3.9794 is our pivot point.

Our preference

The downside prevails as long as 3.9794 is resistance.

Alternative scenario

The upside breakout of 3.9794, would call for 3.9942 and 4.0030.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.9613 and 3.9620). Finally, the EUR/ILS is trading below its lower Bollinger band (standing at 3.9522).

Supports and resistances

4.0030 **

3.9942 *

3.9794 **

3.9736

3.9494 last

3.9296

3.9208 **

3.9121 *

3.9033 **

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