What to trade around United States Existing Home Sales news event

Based on the last 12 Existing Home Sales events in United States, we expect AUDUSD to trend downwards later today. Based on these past events there is a 75% chance of this. We expect AUDUSD to trend downwards 4 hours following the event release at 21 Nov 15:00 if the released value is > 5.2M. A price movement of 6 pips is expected.

Historical events that allowed us to draw this conclusion

23 Apr 15:00

20 Dec 15:00

21 Nov 15:00

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

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