EUR/ILS may rise 228 - 309 pips

Our pivot point is at 4.0932.

Our preference

The upside prevails as long as 4.0932 is support.

Alternative scenario

The downside breakout of 4.0932 would call for 4.0797 and 4.0716.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.0970 and 4.0919).

Supports and resistances

4.1552 **

4.1471 *

4.1390 **

4.1309

4.1081 last

4.0985

4.0932 **

4.0797 *

4.0716 **

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