The Macro Brief - 17 August 2026

Analysis & Learning Aug 17, 2026

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.

The Macro Brief is an excerpt from our weekly Macro Outlook newsletter. Today we are highlighting Oil and EURUSD.

General outlook: Oil Down (-> 20D trough). EURUSD Up (-> 40D peak).

Oil (WTI) - looking for the next 20 day cycle trough. Down.

A weak 20 day cycle peak looks to have formed and price should fall into the next 20 day cycle trough and then bounce again.

EURUSD - looking for the next 40 day cycle peak. Up.

Price is rallying out of an 80 day cycle trough and heading towards the next 40 day cycle peak.

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.