EUR/ILS may rise 342 - 443 pips

3.9768 is our pivot point.

Our preference

The upside prevails as long as 3.9768 is support.

Alternative scenario

The downside breakout of 3.9768 would call for 3.9598 and 3.9498.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.9865 and 3.9868). Finally, the EUR/ILS has crossed above its upper Bollinger band (3.9947).

Supports and resistances

4.0601 **

4.0499 *

4.0398 **

4.0297

3.9955 last

3.9834

3.9768 **

3.9598 *

3.9498 **

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