USD/ILS 1H Chart: Long-term channel in sight

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

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

The US Dollar has been appreciating against the Israeli Shekel since the currency pair reversed from the psychological level at 3.7800 at the end of December.  

Currently, the exchange rate is testing the lower boundary of long-term ascending channel located circa 3.6500. Two scenarios likely, If given channel holds, it is expected that a reversal north occurs in the nearest future. Potential upside target is the Fibonacci 0.00% retracement at 3.7270 mark.  

If given channel does not hold, a breakout south occurs soon, thus, it is expected that the pair aims for the Fibonacci 38.20% retracement located at 3.5968.

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