EUR/ILS may rise 346 - 448 pips

Our pivot point is at 3.9886.

Our preference

The upside prevails as long as 3.9886 is support.

Alternative scenario

The downside breakout of 3.9886 would call for 3.9717 and 3.9615.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.9938 and 3.9946). Finally, the EUR/ILS has crossed above its upper Bollinger band (4.0071).

Supports and resistances

4.0728 **

4.0627 *

4.0525 **

4.0423

4.0077 last

3.9953

3.9886 **

3.9717 *

3.9615 **

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