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There is a 66.67% chance of USDCAD trending upwards

Based on past Canada BoC Interest Rate Decision news events there is a 66.67% chance of USDCAD trending upwards. We expect this to happen because the released value is = 1.75%. A price movement of 147 pips is expected.

Historical events that allowed us to draw this conclusion

29 May 14:00
24 Apr 14:00
06 Mar 15:00
09 Jan 15:00
24 Oct 14:00
11 Jul 14:00
30 May 14:00
18 Apr 14:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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USD/CHF is approaching a support line of a Channel Up. It has touched this line numerous times in the last 22 days.

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