Upside risks dominated the USD/ILS exchange rate after the pair reversed from the lower boundary of a long-term ascending channel located at 3.5758.
The rate is trading near the upper boundary of a short-term ascending channel. Given that the currency pair is supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout from the junior channel...
The Israeli Shekel has been appreciating against the US Dollar since the beginning of August after the pair reversed from the upper boundary of a medium-term channel at 3.7237.
As apparent on the chart, the pair is testing the lower channel line at 3.5700. From the theoretical point of view, a reversal and a breakout from a junior descending channel could occur...
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.
The situation on the USD/ILS charts is initially hard to understand, as the already broken patterns are still drawn on the chart.
Namely, the previously active ascending medium term pattern is still observable on the charts. However, one should concentrate on the new medium term descending pattern.
In the borders of that pattern a junior channel up pattern has...
USDILS Correct 50 % since its ultimate high of 2015.
Market in USDILS isnot expected to start a consolidation movements. However, for shorter periods, USDILS is expected to drop down as a reversal from the Fibonacci level of ( 50%). while, at the same time , the data reveals for the US dollar are a little disappointed and FED members along with analytics start...
