Unfortunately, bad things are happening in the Middle East.
I expect further weakening of the Israeli shekel up to the level shown in the picture. It may even break through that level, it also depends on how the Israeli-Iranian conflict develops.
Shekel drops to 4 against the dollar, in first since 2015.
Currency’s weakness comes as conflict rages, even after Bank of Israel announced plan to intervene in the foreign exchange market to try and contain sharp shekel FOREXCOM:USDILS moves.
The exchange rate of the New Israeli Shekel on Monday crossed the threshold of NIS 4 per dollar, the local currency’s...
Possible purchase opportunity in the Israeli Shekel.
I would expect to make a bear trap, and after a reversal confirmation, I would enter a long.
For now I think it's better to do nothing and just wait.
☑️USD_ILS is trading in a textbook like bearish wedge
And while a move Up inside the wedge is still possible
I am expecting a bearish breakout and consequent move down
Until the pair finds support
SHORT↘️
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after the red candles of the downtrend we have a green candle that means the end of the downtrend and the start of the uptrend, and also the candle with the wick above the body our confirms the start of the market rise, so we are going to buy and collect our profits in the take profit.
signal buy , buy opportunity
The first 3.50 test triggered development from the Bank of Israel, it shows how quickly the zone can be protected and the tables are turned. Intervention is clear, smelling it a mile off here and makes the short-term opportunity towards the highs an attractive option. When the CB like Israels comes out to say that the currency has gone too far and they wont...
EURILS has been trading within a long term Channel Down since December 2018 (RSI = 38.590, MACD = -0.085, ADX = 31.136, Highs/Lows = -0.0915). At the moment it is trading around the 1D MA50 and on the Lower High trend line. We expect the price to be rejected back to the 3.7790 Support. If not, then the June - December 2018 fractal may be played out: rise towards...
The pair is on a strong 1M Channel Down (RSI = 37.575, MACD = 0.082, Highs/Lows = -0.1355) since the beginning of the year. We are expecting another test of the 3.7870 1D Support. Based on the RSI (despite being a bullish divergence) we are expecting a symmetric low outside the Channel. That should be the 3.7870 contact.
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Pattern: Rectangle on 1D (3.4700 - 3.5600).
Signal: Bearish as the price is at the top of the High Volatility zone and the RSI has peaked.
Target: 3.4850 (bottom of the High Volatility zone).
The pair is trading on a Rising Wedge within a wider 1D Channel Up (RSI = 59.015, MACD = 0.014) and the neutral Highs/Lows (0.0000) indicate that it is close to pricing a Higher Low. The long's obvious TP is the Wedge's Resistance at 3.7900 but if it breaks we will extend the buying to 3.8200.
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EURILS has just priced a Lower High on the 1D Channel Down (RSI = 48.245, MACD = -0.010, Highs/Lows = 0.0000) and has started to reverse. We are short with TP = 4.0900.
USDILS has made its new Higher Low (Highs/Lows = 0.0000) on the secondary formation on 1D, which is a Rising Wedge. The primary pattern remains a long term Channel Up (RSI = 57.452, MACD = 0.015, B/BP = 0.0069). We are taking this opportunity to go long, TP = 3.744410.
