Release Time of Intraday Forecast
Intraday forecasts are released in the time limit of closing the standard daily candle (it is according to the closing time of New York market). This time limit, which is approximately universal time (UTC) of 20 to 22, has great significance.
As the market is closed at this time and the results of competition between buyers and sellers become clear, it is one of the best times for traders to make decisions. This is because the direction of tomorrow’s market is determined based on the significant superiority of one of the two parties, with high probability that tomorrow’s market direction will be on its side unless there is a release of economic news that tips the balance of powers so the direction of the market will be changed.
The releasing time of intraday forecasts of Forecast City is one of the best times for all traders who see financial markets as a second job or engage in it while studying or working during official working hours of their country. Actually, this time corresponds to the off hours in many countries as the daily working hours in the Middle-East, Europe, and America are finished and they have not started in Oceania and Eastern Asia.
The exact time of presenting each forecast is automatically represented on the image of intraday forecasts charts in the form of green vertical dotted line. Also, the exact time and date of release according to the standard daily candle is clear under the images with a green background.
Example: As it is seen in the front analytic image of intraday forecast, the forecast was released in 00:02 on 2013/04/30 (UTC+03:00) means 2 minutes after opening the standard daily candle.
Every week, we release intraday forecasts for Monday when the market closes on Friday. So, you have two days to study them and compare with your own analysis. However, if we expect important economic or political news on Saturday or Sunday, then it is better to release the forecasts on Monday when the market opens because such news may influence the technical equations and the market may go a different direction.
Also, it is preferred to report the intraday forecasts on Monday in the weeks we have NFP news.