technical analysis:
on monthly, bullish divergence, the retesting and retesting of a descending resistance with many fake out breakouts. the more a resistance is tested the more likely it is to break.
some fundamental analysis:
it has a miniscule inflation rate right now at 0.84% in 2021. but on average it is 21.46% this is due to 370% inflation rate around 1985 due to very bad economic conditions.
people that where 20 at the time of huge inflation would be 56 now so people would remember, and a currency is only worth what people assign it, possible run on commodities or other currencies if it starts going bad.
a tiny inflation rate is not always good as it could mean the economy is not doing so well.
to note: it had negative inflation rates in 2015 and 2016.
Israel's GDP has been steadily increasing at a good rate, with growth rate of 5% so far in 2021,
70% of Israel's GDP is the service sector, and with its exceptional vaccine rollout, its looking optimistic.
debt to GDP increased from 58% to 71% in 2020, that is still a lot better than other some other countries. with that around 20% increase being normal in 2020.
the elephant in the room, current conflict, possibility of war. a conflict on a larger scale could mean serious damage to the economy.
regardless if a larger conflict happens i think euro is going up against shekel, with a larger conflict just adding fire to the flames.
the EXY, euro currency index is extremely bullish with a retest of a monthly resistance, i expect big things.
on monthly, bullish divergence, the retesting and retesting of a descending resistance with many fake out breakouts. the more a resistance is tested the more likely it is to break.
some fundamental analysis:
it has a miniscule inflation rate right now at 0.84% in 2021. but on average it is 21.46% this is due to 370% inflation rate around 1985 due to very bad economic conditions.
people that where 20 at the time of huge inflation would be 56 now so people would remember, and a currency is only worth what people assign it, possible run on commodities or other currencies if it starts going bad.
a tiny inflation rate is not always good as it could mean the economy is not doing so well.
to note: it had negative inflation rates in 2015 and 2016.
Israel's GDP has been steadily increasing at a good rate, with growth rate of 5% so far in 2021,
70% of Israel's GDP is the service sector, and with its exceptional vaccine rollout, its looking optimistic.
debt to GDP increased from 58% to 71% in 2020, that is still a lot better than other some other countries. with that around 20% increase being normal in 2020.
the elephant in the room, current conflict, possibility of war. a conflict on a larger scale could mean serious damage to the economy.
regardless if a larger conflict happens i think euro is going up against shekel, with a larger conflict just adding fire to the flames.
the EXY, euro currency index is extremely bullish with a retest of a monthly resistance, i expect big things.