EUR/ILS may fall 224 - 322 pips

Our pivot point is at 4.1065.

Our preference

Under pressure below 4.1065.

Alternative scenario

Above 4.1065, look for 4.1231 and 4.1330.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.0873 and 4.0849).

Supports and resistances

4.1330 **

4.1231 *

4.1065 **

4.1000

4.0848 last

4.0624

4.0526 **

4.0427 *

4.0329 **

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