As Israel’s stock market continues to close higher, the odds will continue to favor bearish investors. The USD/ILS trading pair is mainly driven by the positivity in the Israeli market and the negativity in the United States economy. The Israeli shekel is bound to recover its major losses against the US dollar from earlier this year, maintaining its commendable performance. However, it’s also feared that further appreciation from the Israeli shekel might prompt the country’s central bank to interfere. But despite those concerns, the pair remains on track to crash back to its support area. Moreover, experts from Israel warns that the outlook of the country and the economy is still vague thanks to the ongoing pandemic, with some experts saying that this dilemma is truly unique in history. However, bearish investors are hoping that the Israeli government has finally learned from previous economic hurdles like the 2008-2009 economic crisis.
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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.