💡The analysis shown in the chart relates to technical analysis of the USD/ILS currency pair
(US Dollar vs. Israeli Shekel) on the daily time frame (D1). It shows the support and resistance levels, in addition to the ascending channel within which the price is moving.
Since the ascending channel has been broken, traders should take caution from long positions, and focus on resistance levels to monitor any possible bounce. The downtrend may continue in the near term, especially if the price stays below the pivot point (P.P) and the R.1 resistance.
⛔️Not investment advice, for educational purposes only.
(US Dollar vs. Israeli Shekel) on the daily time frame (D1). It shows the support and resistance levels, in addition to the ascending channel within which the price is moving.
Since the ascending channel has been broken, traders should take caution from long positions, and focus on resistance levels to monitor any possible bounce. The downtrend may continue in the near term, especially if the price stays below the pivot point (P.P) and the R.1 resistance.
⛔️Not investment advice, for educational purposes only.
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