Unfortunately, bad things are happening in the Middle East. I expect further weakening of the Israeli shekel up to the level shown in the picture. It may even break through that level, it also depends on how the Israeli-Iranian conflict develops.
We have the Butterfly pattern To trade a bearish Butterfly pattern, place your sell order at point D (the 127% Fibonacci extension of the X-A leg), position your stop loss just above the 161.8% extension of the X-A leg and place your profit target at either point A ( aggressive) or point B (conservative). Short entry Stop loss Conservative profit target Aggressive...
Based on recent price action, it appears that USDILS may be primed for a bullish move. The USDILS chart has just closed its first monthly candle above a long-term downtrend trendline that has been in place for more than 20 years. This is a significant technical development that suggests a major shift in the currency pair's direction. With this in mind, a...
If the price exceeds 3.56, the first target is between 3.61 -3.68 The second goal is 3.75
USDILS.. Important levels & Trend lines In light of the continuous and repeated raising of US interest rates, we most likely expect an upward strength of the US dollar, and in turn, the stability of the USDILS pair above 3.40 levels will push it to achieve more gains, especially in light of the current Israeli conditions, and the news that talks about its...
The first 3.50 test triggered development from the Bank of Israel, it shows how quickly the zone can be protected and the tables are turned. Intervention is clear, smelling it a mile off here and makes the short-term opportunity towards the highs an attractive option. When the CB like Israels comes out to say that the currency has gone too far and they wont...
Pattern: Channel Down on 1W. Signal: Bearish as the price made a Lower High on the 1D MA50. Confirmation of signal once the dashed line breaks. Target: 3.700 (above -6.00% from the High).
EURILS has been trading within a long term Channel Down since December 2018 (RSI = 38.590, MACD = -0.085, ADX = 31.136, Highs/Lows = -0.0915). At the moment it is trading around the 1D MA50 and on the Lower High trend line. We expect the price to be rejected back to the 3.7790 Support. If not, then the June - December 2018 fractal may be played out: rise towards...
The pair is on a strong 1M Channel Down (RSI = 37.575, MACD = 0.082, Highs/Lows = -0.1355) since the beginning of the year. We are expecting another test of the 3.7870 1D Support. Based on the RSI (despite being a bullish divergence) we are expecting a symmetric low outside the Channel. That should be the 3.7870 contact. ** If you like our free content follow...
Pattern: Rectangle on 1D (3.4700 - 3.5600). Signal: Bearish as the price is at the top of the High Volatility zone and the RSI has peaked. Target: 3.4850 (bottom of the High Volatility zone).
The pair is trading on a Rising Wedge within a wider 1D Channel Up (RSI = 59.015, MACD = 0.014) and the neutral Highs/Lows (0.0000) indicate that it is close to pricing a Higher Low. The long's obvious TP is the Wedge's Resistance at 3.7900 but if it breaks we will extend the buying to 3.8200. ** If you like our free content follow our profile...
Upside risks dominated the USD/ILS exchange rate after the pair reversed from the lower boundary of a long-term ascending channel located at 3.5758. The rate is trading near the upper boundary of a short-term ascending channel. Given that the currency pair is supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout from the junior channel...
EURILS has just priced a Lower High on the 1D Channel Down (RSI = 48.245, MACD = -0.010, Highs/Lows = 0.0000) and has started to reverse. We are short with TP = 4.0900.
The Israeli Shekel has been appreciating against the US Dollar since the beginning of August after the pair reversed from the upper boundary of a medium-term channel at 3.7237. As apparent on the chart, the pair is testing the lower channel line at 3.5700. From the theoretical point of view, a reversal and a breakout from a junior descending channel could occur...
USDILS has made its new Higher Low (Highs/Lows = 0.0000) on the secondary formation on 1D, which is a Rising Wedge. The primary pattern remains a long term Channel Up (RSI = 57.452, MACD = 0.015, B/BP = 0.0069). We are taking this opportunity to go long, TP = 3.744410.
The situation on the USD/ILS charts is initially hard to understand, as the already broken patterns are still drawn on the chart. Namely, the previously active ascending medium term pattern is still observable on the charts. However, one should concentrate on the new medium term descending pattern. In the borders of that pattern a junior channel up pattern has...
ABCD PATERN WITH optional flag to 3.77 SL at 3.6 who seems to support
The prevailing pattern for the USD/ILS exchange rate is a six-week falling wedge. The rate entered this pattern from the downside on April 24. It has since provided two confirmations on each side and is gradually moving towards a breakout. The bottom boundary of this pattern is reinforced by SMAs on the 4H and 1D time-frames. Thus, it is likely that the Greenback...