Based on the last 12 Existing Home Sales events in United States, we expect USDCAD to trend upwards right now. Based on these past events there is a 75% chance of this. We expect USDCAD to trend upwards for the next 2 hours because the released value is > 5.39M. A price movement of 7 pips is expected.
Historical events that allowed us to draw this conclusion
|21 Jun 14:00|
|22 Mar 14:00|
|19 Dec 15:00|
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).