| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The US Dollar has been appreciating against the Israeli Shekel within the ascending channel since the beginning of August. As apparent on the chart, the USD/ILS currency pair has already reversed south from the upper channel line at 3.5550.
From a theoretical point of view, it is likely, that the exchange rate should reach the lower channel boundary located circa 3.5050. If the given trend holds, the general direction is expected to be north. Otherwise, a breakout south could occur. A possible downside target is the psychological level at 3.4800.
However, note, that the pair is supported by the Fibonacci 61.80% retracement at 3.5163. If the given level holds, it is likely, that a reversal north could occur in the nearest future. A possible upside target is the Fibonacci 50.00% retracement at 3.5565.