EUR/ILS may fall 223 - 328 pips

Our pivot point stands at 3.9938.

Our preference

The downside prevails as long as 3.9938 is resistance.

Alternative scenario

The upside breakout of 3.9938, would call for 4.0116 and 4.0222.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3.9727 and 3.9735). Finally, the EUR/ILS is trading below its lower Bollinger band (standing at 3.9667).

Supports and resistances

4.0222 **

4.0116 *

3.9938 **

3.9869

3.9661 last

3.9438

3.9333 **

3.9228 *

3.9123 **

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