An update the chart analysis have a high probabilty to go barrish trend but the primary analysis is more important the wednsday night the fed report will show up and from there the market trend will shown , Let us remember any sudden news inside Israel that may affect the direction of the market. In my view, we will have to wait a little until the end of the week....
The bullish channel was broken heading to test or local support in the short term at point 3.71?
This confirms the previous analysis, where I mentioned that the drop will be at 3.80
Note: This analysis is not considered financial advice. Do your own research before making a decision
We have the Butterfly pattern
To trade a bearish Butterfly pattern, place your sell order at point D (the 127% Fibonacci extension of the X-A leg), position your stop loss just above the 161.8% extension of the X-A leg and place your profit target at either point A ( aggressive) or point B (conservative).
Short entry
Stop loss
Conservative profit target
Aggressive...
I think that the price is preparing for a downside trend for the following technical reasons
1 monthly resistance
2 bearish divergence on weekly chart
3 bearish divergence on daily chart
4 The rising wedge pattern
Based on the available data, we can consider that the price has reached a point of completion according to the Elliott Wave theory, along with supply and demand analysis. Currently, we find ourselves in the fifth wave, which may end at any time.
It is important to note that there is a possibility of a sharp drop that could affect the overall direction of the...
The USDILS is trading in an upward direction, and I believe that at the end of the bullish wave, the price may reach 3.78 , 3.82 levels, and then the bearish wave formation begins.
Economic news in Israel mainly affects prices
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The price retested the broken rising wedge and was unable to continue the bullish trend.
I expect the price to retest the support areas at 3.54 levels
If this level is broken, a head and shoulders pattern will be formed, which will make the price continue to fall to retest 3.36 levels as a target for the pattern.
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...
hi every one
complete pullback to the trendline with 4% profit Potential
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welcome everybody
On the long time frame and in the final upward channel the chart is moving in a large upward channel
There seems to be a sign of overbought in the areas of 3.70-3.75
We have reached the ceiling of the price channel (3.75), and it seems that we are unable to breach this area
Therefore, the possibility of a decline will be stronger than an...
