| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The US Dollar has been depreciating against the Israeli Shekel since the beginning of September. This movement has been bounded in the falling wedge pattern. Currently, the USD/ILS exchange rate is trading at the 3.4850 level.
From a theoretical point of view, it is likely that a breakout north could occur within the following trading sessions. A possible upside target is the resistance level formed by the Fibonacci 50.00% retracement at the 3.5565 mark.
However, note that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, currently located in the 3.4829/3.5121 range. Therefore, a breakout south could occur in the nearest future. Important level to look out for is the Fibonacci 100.00% retracement at 3.3861.