USD/ILS 1H Chart: New medium pattern takes over

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

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 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.

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