The US dollar sees a huge window of opportunity to force the USD/ILS trading pair higher, erasing the recent gains of the Israeli shekel in the coming days. It is forecasted that the exchange rate’s prices will climb up to its resistance level, hitting ranges last seen back in May. The reason for this is the bright and shining safe-haven appeal of the greenback that has been further boosted by the latest news about the United States president himself. See, two days after his debate with opposition candidate Joe Biden, Donald Trump tested positive for the deadly virus, casting a greater cloud of uncertainty for the market. Meanwhile, the Israeli shekel might finally see losses after it has impressively floored the greenback in the past few trading sessions. Looking at the bigger picture, it appears that the shekel has closed the month of September on a rather strong note and that it is still in good grounds even if the buck pushes the exchange rate to its resistance.
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Disclaimer
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.