FX Monthly (Nov ’17)

USD turning NeutralBreak below the 91.92 year low of May 2016 bouncing smartly from 91.00 as oversold stochastics unwind.

Prices pressuring 95.00, but mixed studies suggest consolidation before any clear break is seen.

Cautious Upgrade to Neutral.

A close above 95.00 would confirm continuation of the September rally, and open up the 95.90, (38.2%) Fibonacci retracement.

Still higher is the 97.40, (50%) retracement.

Support is at the 92.75 low of October, but a close below the 91.00 low of September is needed to confirm continuation of the 2017 bear trend and turn investors outright Negative once again.

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