Usd/ils. Give me prediction and analysis for the next 9 hours
10/10/2024 08:52pm
**Prediction and Analysis for USD/ILS in the Next 9 Hours**
1. **Short-Term Price Movement**:
- **Recent Price Action**: The USD/ILS exchange rate has experienced fluctuations, with a recent high of 3.7962 Shekels per 1 Dollar.
- **Technical Indicators**: The pair is trading above its 50-Day Moving Average, indicating a recent uptrend.
2. **Market Sentiment and Upcoming Events**:
- **Geopolitical Tensions**: The ongoing conflict between Hamas and Israel has created volatility in the exchange rate.
- **Interest Rate Expectations**: The market is anticipating a potential interest rate cut by the Federal Reserve, which could influence the US Dollar's value.
3. **Price Forecast and Analysis**:
- **Resistance and Support Levels**: The resistance level is above 4.00 Shekels, while the support level is near 3.730 Shekels.
- **Moving Averages**: The 50-Day Moving Average is 3.787 Shekels, which the pair is currently above, suggesting a bullish trend.
4. **Analyst Ratings and Price Targets**: MUFG Bank analysts expect the Shekel to rebound from weaker levels once the conflict de-escalates. Piper Jaffray's top large cap stock pick, with a 12-month price target of $172, could influence investor sentiment.
5. **Conclusion**: In the next 9 hours, the USD/ILS pair is likely to face some volatility due to geopolitical tensions and interest rate expectations. The pair is expected to test the resistance level above 4.00 Shekels, and traders should monitor the conflict's de-escalation and the Federal Reserve's policy decisions for potential shifts in sentiment.
In summary, the short-term forecast for USD/ILS suggests a bullish outlook with potential for a test of the resistance level above 4.00 Shekels. The recent price action and technical indicators indicate an uptrend, which could be influenced by the ongoing conflict and interest rate expectations.