EUR/ILS may rise 280 - 395 pips

Our pivot point is at 4.0544.

Our preference

The upside prevails as long as 4.0544 is support.

Alternative scenario

Below 4.0544, expect 4.0352 and 4.0238.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.0570 and 4.0442). Finally, the EUR/ILS is trading above its upper Bollinger band (standing at 4.0804).

Supports and resistances

4.1430 **

4.1316 *

4.1201 **

4.1086

4.0806 last

4.0620

4.0544 **

4.0352 *

4.0238 **

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