Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect EURUSD to trend upwards later today. Based on these past events there is a 71.43% chance of this. We expect EURUSD to trend upwards 4 hours following the event release at 12 Nov 23:30 if the released value is > 93.5. A price movement of 7 pips is expected.
Historical events that allowed us to draw this conclusion
11 Sep 00:30 |
15 May 00:30 |
10 Apr 00:30 |
12 Feb 23:30 |
11 Dec 23:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
