Sample note: Dollar Index - 24 October 2022

Sample Notes Oct 24, 2022

Link to guidance notes for Hurst cycles terminology: FLD, VTL, Translation, Diamonds, Circles/Whiskers...

The current 80 day cycle topped on 29 September and is heading down. The trough of this cycle is expected towards the end of October at circa 110, implying limited downside in terms of price and time.

Analysis:  the anticipated shortness of the reset down is because the broad underlying trend is Up and the end of May low was very likely that of an 18 month cycle trough. This long cycle is therefore rising and suggests that when a new 80 day cycle starts up again towards the end of the month, the Dollar should recover with the longer uptrend acting as a tailwind. Note: the 80 day FLD should act as support around the time of the 80 day cycle low.  Broadly speaking the next aiming point after the expected upside reversal will be the 40 day cycle peak.  We will create a specific roadmap at the end of the month.

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.