After the Israeli shekel rebounded yesterday, bulls immediately stepped on their gas pedals to prevent the Israeli shekel from dragging the pair downwards again. Looking at it, the 50-day moving average is still below the 200-day moving average, suggesting that bulls haven’t actually prevailed yet. Although, it’s also worth noting that the two MAs are now close to intersecting wherein traders of the US dollar are hoping the 50-day MA rises above the 200-day MA. The announcement of the US Federal Reserve earlier this week, on Tuesday, set the tone for the greenback. According to reports, the Fed will reinstate a funding center or facility used during the financial crisis back in 2008. The facility will help to directly provide credit to businesses and houses that are in great need. And just recently, it was just reported that the Ban of Israel made a loan that is worth billions of shekels to support the country during this pandemic.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.