Macro Outlook - 3 November 2025

Macro Outlook Nov 3, 2025

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

US Dollar Up (->80D peak). Gold reacts Up? (80D trough). Oil Up (-> 40D peak). Copper Down (-> 80D trough). USDJPY Up (->80D peak). EURUSD Down (-> 80D trough). SPX ES-minis Down (= 80D peak?). Nikkei (->20W peak) Down. Bitcoin Down (-> 80D trough).

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.