EUR/ILS may rise 303 - 417 pips

4.1207 is our pivot point.

Our preference

Look for a drop towards 4.1207 before a bounce.

Alternative scenario

Below 4.1207, expect 4.1017 and 4.0905.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.1395 and 4.1371).

Supports and resistances

4.2059 **

4.1946 *

4.1833 **

4.1719

4.1416 last

4.1282

4.1207 **

4.1017 *

4.0905 **

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