| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇘ | ⇘ | ⇒ |
The US Dollar has been depreciating against the Israeli Shekel since the end of April when the USD/ILS pair reversed south from the upper boundary of the short-term descending channel at 3.6415.
As apparent on the chart, the currency pair has already reached the lower channel line at the 3.5570 mark. From a theoretical point of view, the pair should reverse north and continue to trade within the given channel.
However, note, that the exchange rate is pressured by the 200-hour SMA, currently located at 3.5917. Thus, if the given channel does not hold, a breakout south might occur in the nearest future. A possible downside target is the Fibonacci 61.80% retracement at 3.5163.