Are you on the right side of the CA Balance of Trade news event?

Based on the last 12 Balance of Trade events in CA, we expect GBPUSD to trend down later today. Based on these past events there is a 71.4% of this.
We expect GBPUSD to trend down 4 hours following the event release at 09 May 12:30 if the released value is < C$-1.5B. A price movement of 19 pips is expected.Historical events that allowed us to draw this conclusion

27 Mar 12:30
 
06 Mar 13:30
 
08 Jan 13:30
 
02 Nov 12:30
 
03 May 12:30
 

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

leave a reply