EUR/ILS may fall 256 - 381 pips

4.1390 is our pivot point.

Our preference

The downside prevails as long as 4.1390 is resistance.

Alternative scenario

Above 4.1390, look for 4.1601 and 4.1726.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.1198 and 4.1238).

Supports and resistances

4.1726 **

4.1601 *

4.1390 **

4.1307

4.1171 last

4.0915

4.0790 **

4.0665 *

4.0539 **

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