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Community Blog Forex Trend Prediction: Daily Prediction of the Currency Exchange Rate Trends

Forex Trend Prediction: Daily Prediction of the Currency Exchange Rate Trends

This project is from the Pegacode team, which was awarded with an Innovation Award in the Alibaba Cloud Global AI Innovation Challenge 2020.

Project Introduction

Forex Trend Prediction uses machine learning to simulate how forex traders predict market trends based on prevailing indicators used by most traders. The results have obtained an accuracy of over 60% for 4 major currency pairs.

Target Problems

Many enterprises rely on export and import for their businesses. Often times, they will endure foreign exchange losses due to fluctuations in exchange rates. For example, if a manufacturer in China needs to place an order for some parts from a Korean company, they might have to pay the order in KRW or USD at some time in the future.

Forex Trend Prediction will help them predict the trend of the currency exchange rate every day.

Solution

Forex Trend Prediction will be run each day with updated historical forex data and generate the updated trend for each day. The generated result will be stored in Alibaba Cloud OSS and published on our website.

Alibaba Cloud Products Used

Technology Highlights

PAI DSW is used to enrich the historical forex data with prevailing technical indicators in the market, the enriched dataset will then go through a feature selection and extraction process to maximize the prediction accuracy.

The prediction will then be generated based on the best feature set for each currency pairs. PAI DSW can also easily integrate with OSS to store the data generated to OSS for publishing. Our web server, hosted on Alibaba Cloud, is used to publish the stored data in OSS on the website.

About the Team

Pegacode specializes in educating kids and teens in coding. Our curriculum includes Scratch, Python, Java and C++

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