We expect USDCAD to trend downwards for the next 4 hours. Based on these past United Kingdom Balance of Trade news events there is a 66.67% chance of this. We expect this to happen because the released value is < £-11.7B. A price movement of 49 pips is expected. Historical events that allowed us to draw this conclusion
13 Jul 06:00 |
11 Mar 07:00 |
13 Oct 06:00 |
10 Sep 06:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
