We expect CL to trend downwards later today. Based on these past Australia NAB Business Confidence news events there is a 71.43% chance of this. We expect this to happen if the released value is < 5. A price movement of 326 pips is expected. Historical events that allowed us to draw this conclusion
10 May 01:30 |
25 Jan 00:30 |
14 Dec 00:30 |
10 Aug 01:30 |
08 Jun 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
