USDCAD will trend downwards right now

Past performance is not an indicator of future results.
We expect USDCAD to trend downwards for the next 48 hours. Based on these past Euro Area Business Confidence news events there is a 71.43% chance of this. We expect this to happen because the released value is < 0.75. A price movement of 55 pips is expected.

Historical events that allowed us to draw this conclusion

08 Jan 10:00
30 Oct 10:00
30 Jul 10:00
28 Jun 10:00
30 Jan 10:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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