Based on past United States Existing Home Sales news events there is a 66.67% chance of USDCAD trending upwards. We expect this to happen because the released value is > 5.5M. A price movement of 46 pips is expected.

Historical events that allowed us to draw this conclusion

22 Feb 02:00	23 Jan 02:00
20 Sep 00:00	22 Aug 00:00

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