EUR/ILS may rise 370 - 472 pips

Our pivot point stands at 3.9899.

Our preference

The upside prevails as long as 3.9899 is support.

Alternative scenario

The downside breakout of 3.9899 would call for 3.9729 and 3.9628.

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 4.0001 and 4.0033).

Supports and resistances

4.0708 **

4.0606 *

4.0505 **

4.0403

4.0033 last

3.9966

3.9899 **

3.9729 *

3.9628 **

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