Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect AUDUSD to trend upwards. Based on these past events there is a 75% chance of this. We expect AUDUSD to trend upwards for 4 hours because the released value is < 54.5. A price movement of 24 pips is expected. Historical events that allowed us to draw this conclusion
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All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
