USDILS Short UPDATEI am moving up my take profit to 3.7889, or fib 0.618; I am keeping my original take profit as a secondary target.
The reason that I have moved this is that on second review; there is some volatility around this price area previously and it has served as a support and resistance in the past
ILSUSD trade ideas
USDILS ShortThere is a wedge forming for USDILS which indicating that the currency will start on a downtrend in around March 2017. I believe that the currency will go down to around 3.72 which was a previous low in April 2016.
We can also see a downtrend showing on the RSI and CCI which further supports the ideology that a downtrend is likely to take place.