Based on recent price action, it appears that USDILS may be primed for a bullish move. The USDILS chart has just closed its first monthly candle above a long-term downtrend trendline that has been in place for more than 20 years. This is a significant technical development that suggests a major shift in the currency pair's direction.
With this in mind, a potential trading idea would be to enter into a long position in USDILS at current levels, with a buy zone of 3.50-3.65. This range is based on previous support and resistance levels and should provide a good entry point for traders looking to capitalize on a potential breakout.
As for targets, the first level to watch for is 3.80. This level represents the next resistance zone that USDILS will need to overcome on its way higher. If the pair is able to break through this level, the next target to watch for is 4.15, which represents the previous swing high from 2018.
Of course, it's important to remember that trading always carries risk, and there are no guarantees in the markets. It's always wise to manage risk by using stop losses and other risk management strategies.
Comment
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structure is broken. 1D closed under ema20 (6 June 23).
unfortunately it will not happen, israeli shekel have strength but the last few month was harsh because the judicial reforms and us rate hikes which was big hit for the shekel but recently the shekel is recovering
ProkY
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Looks like a plan ... but i want a dipper correction 3.40+- or double low? for so major change
DaoudOthman
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Dear, Could you please look at it again and provide your idea sgain. Thanks.
ego1smo
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@DaoudOthman, hi! The idea is still actual until 1M candle close will be below ±3.49. If you want to manage your deal more efficient - you can turn up ema 20 on 1D chart and hold the position until 1D close are above ema20 (1D). And also buy again, when 1D will close above.