Based on the last 12 Balance of Trade events in Germany, we expect a 34 pip movement on EURUSD for the next 2 hours. We expect EURUSD to trend downwards for 2 hours because the released value is < €17.4B Historical events that allowed us to draw this conclusion

08 Jan 18:00	09 Dec 18:00
08 Oct 17:00	08 Sep 16:00
09 Jul 16:00

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