| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇘ |
The USD/ILS currency pair continued to trade downwards within the falling wedge pattern. As apparent on the chart, the pair surpassed the 3.4800 level.
From a theoretical point of view, it is likely that some downside potential could prevail in the market, as the exchange rate should target the lower pattern line located circa 3.4350. Also, it is likely that bears could continue to prevail in the market in the medium term.
It is unlikely that bulls could prevail, and the currency pair could breach the given pattern north due to the resistance formed by the 200-period SMA (4H time-frame chart). However, if the given pattern and resistance do not hold, the pair could reach the Fibo 61.80% at 3.5163.