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Israeli

USD/ILS 1H Chart: New medium pattern takes overThe 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 already guided the currency rate up to the resistance line of the medium term pattern. In regards to the near future, the pair is set to get squeezed in between the various hourly SMAs, lower trend line of the junior pattern and the resistance line of the medium term pattern. If the dominant pattern holds its ground, the squeeze should end in a break out to the downside.
by UnknownUnicorn890690
USD/ILS 4H Chart: Review after new heightsAfter the US Dollar reached new heights against the Israeli Shekel, most patterns could be observed as broken. That fact pushed for a larger review. It was discovered that the currency exchange rate is surging simultaneously in two ascending pattern. The dominant pattern has the form of an ascending wedge. Meanwhile, there exists a junior medium term ascending channel pattern. In regards to the future, the rate is likely going to reach the high level of the monthly PP near the 3.70 mark in July. However, note that there might be short term, smaller time frame resistance levels existing that might slow down the surge.
Long
by UnknownUnicorn890690
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