Based on the last 12 Balance of Trade events in Germany, we expect a $280 movement on NZDUSD within the next 2 hours. We expect NZDUSD to trend downwards for 2 hours because the released value is < €9.2B Historical events that allowed us to draw this conclusion

07 Jan 18:00	09 Nov 18:00
08 Oct 17:00	09 Aug 16:00
08 Jul 16:00	09 Apr 16:00

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