Based on the last 12 Ifo Business Climate events in Germany, we expect CL to trend downwards later today. Based on these past events there is a 71.43% chance of this. We expect CL to trend downwards 2 hours following the event release at 25 Aug 08:00 if the released value is > 100.4. A price movement of 30 pips is expected.
Historical events that allowed us to draw this conclusion
24 Jun 08:00 |
25 May 08:00 |
26 Mar 09:00 |
22 Feb 09:00 |
18 Dec 09:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
