EUR/ILS may fall 270 - 394 pips

4.1126 is our pivot point.

Our preference

The downside prevails as long as 4.1126 is resistance.

Alternative scenario

Above 4.1126, look for 4.1335 and 4.1460.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.1003 and 4.0965).

Supports and resistances

4.1460 **

4.1335 *

4.1126 **

4.1043

4.0878 last

4.0608

4.0484 **

4.0359 *

4.0235 **

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