USD/ILS 1H Chart: Pair waits bullish confirmation

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 Sell
Aggregate

Upside risks dominated the USD/ILS exchange rate after the pair reversed from the lower boundary of a long-term ascending channel located at 3.5750.  

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 occurs during the following trading sessions. A potential upside target is the monthly R2 at 3.6986.  

By the large, it is expected that the exchange rate continues its increase until the Fibonacci 0.00% at the 3.7270 mark.

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