7647094 7/13/2017 6:11 PM, EUR/ILS intraday: the RSI is oversold


4.0401 is our pivot point.


Our preference

: the downside prevails as long as 4.0401 is resistance.


Alternative scenario

: above 4.0401, look for 4.0538 and 4.0620.


Comment

: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 4.0390 and 4.0590).


Supports and resistances

:

4.0620 **

4.0538 *

4.0401 **

4.0348

4.0231 last

4.0063

3.9982 **

3.9900 *

3.9819 **