SPEC FX has introduced an NFP Forecast Challenge based on the expected price movement of XAUUSD, also known as Gold, during the release of the U.S. Non-Farm Payroll report.
The challenge focuses on forecasting the direction and price level of Gold around the NFP release. Participants submit their forecast before the specified deadline, and the result is evaluated using the one-minute XAUUSD candle at the exact NFP release time.
How the Challenge Works
Participants need to access the official SPEC FX platform and complete the forecast form provided for the event.
The forecast requires participants to select one of three possible market directions:
Bullish
Bearish
Doji
Participants also need to enter their forecast price with two decimal places. For example, a price can be entered as 3335.80.
Forecasts can be edited until the stated submission deadline. According to the event information, the forecast can be updated up to one hour before the NFP release.
Reward Structure
The challenge provides rewards for the participants who achieve the required forecast results.
First place includes one winner with an $88 reward.
Second place includes two winners with a $38 reward each.
Third place includes three winners with an $18 reward each.
Evaluation Method
The result is determined using the one-minute XAUUSD candle at the exact NFP release time.
A bullish result is recorded when the candle opens below its closing price.
A bearish result is recorded when the candle opens above its closing price.
A doji result is recorded when the opening and closing prices are equal.
The price reference is based on the raw bid price high or low shown on the SPEC FX chart. The stated price reference applies to both ECN and Standard accounts.
Submission Timing
The challenge uses the NFP release time as the main reference for evaluating forecasts.
For example, if the NFP report is scheduled for 21:30 in the stated GMT+9 time zone, the submission deadline would be 20:30. The evaluation candle would be the one-minute candle from 21:30:00 to 21:30:59.
Participants should submit their forecast before the deadline to ensure that their entry is recorded for evaluation.
Prize Distribution
Winners are notified by email within three business days.
Before receiving a reward, winners must complete the required account verification process. The reward may be forfeited if the required verification and deposit conditions are not completed within the specified 72-hour period.
Participation is also subject to the trading and account terms associated with the event. SPEC FX may review participation and withdraw rewards where the stated eligibility requirements have not been met.
Final Overview
The SPEC FX NFP Forecast Challenge is structured around the monthly U.S. Non-Farm Payroll release and the short-term movement of XAUUSD.
Participants submit a market direction and forecast price before the deadline. Their entries are then compared with the one-minute XAUUSD candle recorded at the NFP release time.
The event information states that the available rewards are distributed among the first, second, and third ranked participants according to the specified reward structure.
