i would like to know how they come up with their forecast predictions on high impact news or other news on the calendar ?
what specifically do they do to work out their forecast predictions ?
Many high impacted news events are having official forecasts (for example - NFP).I can not find the sources for now sorry.Of course, every calendar is having separate forecast figures which is related to opfficial forecasts anyway (just a little more by value or a little less for example).Besides, the analytics (who are working for the calendar) are able to make their own forecasting for example.So, the forecasting figures are coming from the following sources:
I often advise people on that.
Trading is not as easy as just reading the contents of the economic news.
If you have doubts or do not even know what to do in the big event,
then you should stay away from the chart.
Turn off your computer, your money is safe,
and just back on it tomorrow :))
High impact news is a high risk events that if you can avoid you better do it, while it may drive prices significantly to higher or lower levels in split seconds it will also put so much risk in your trade that may just lead to more loses in the long run, it is much better to trade only after the release of such news.