Based on the last 12 Housing Starts events in US, we expect USDCAD to trend down right now. Based on these past events there is a 71.4% of this.
We expect USDCAD to trend down for the next 2 hours because the released value is < 1.23M. A price movement of 15 pips is expected.
Historical events that allowed us to draw this conclusion
26 Mar 12:30 |
26 Feb 13:30 |
16 Aug 12:30 |
18 Jul 12:30 |
16 May 12:30 |
* All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”)
