EUR/ILS may rise 256 - 343 pips

3.9801 is our pivot point.

Our preference

The upside prevails as long as 3.9801 is support.

Alternative scenario

The downside breakout of 3.9801 would call for 3.9655 and 3.9568.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.9826 and 3.9822).

Supports and resistances

4.0440 **

4.0352 *

4.0265 **

4.0178

3.9922 last

3.9859

3.9801 **

3.9655 *

3.9568 **

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