We expect YM to trend downwards later today. Based on these past Germany Markit Manufacturing PMI Flash news events there is a 71.43% chance of this. We expect this to happen if the released value is > 52.5. A price movement of 141,750 pips is expected.
Historical events that allowed us to draw this conclusion
23 Jun 07:30 |
21 Feb 08:30 |
24 Jan 08:30 |
22 Aug 07:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
