EUR/ILS may rise 245 - 351 pips

Our pivot point is at 4.1014.

Our preference

Our next up target stands at 4.1511.

Alternative scenario

The downside breakout of 4.1014 would call for 4.0835 and 4.0729.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.1153 and 4.1157).

Supports and resistances

4.1724 **

4.1618 *

4.1511 **

4.1405

4.1160 last

4.1084

4.1014 **

4.0835 *

4.0729 **

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