Macro Outlook - 3 November 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).