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
SEKNOK – heading towards a 40 day cycle peak within longer uptrend component.
The SEKNOK pair has been a strong out-performer across the macro FX space so we are stalking some sort of take some profits / top zone. We think the next meaningful target is the 40 day cycle peak due from the last week of November around 1.033 – towards the top of the non-cycles channel plotted. The end of July low was an 18 month cycle trough and this cycle is clearly still up-trending and less than 15 weeks along its trajectory. Furthermore, a new 80 day cycle started up at the beginning of November. Because the underlying trend is up, we expect the 40 day cycle peak to be pushed forward in time (right translated). The next 40 day cycle trough is due around 10 December.
This post was first published on Hurst Cycles Notes.
