Exchange Rate Forecast Services
Exchange rate forecast services advice their clients on what their predictions for future forex rates are. Many of these services base their predictions on statistical methods, technical analysis, or a combination of these two measures.
If you have a brokerage account, especially with one of the bigger dealers in the market with their own research department (Deutsche Bank, Chase, etc.), you should try to get their predictions first, as these are normally and primarily available for clients of the brokerage.
For other services, you can contact, for example, one of the online prediction providers or a service, which gathers third party data on predictions.
Exchange Rate Forecast Services – Providers
When you choose a forecast service, there are several things to consider. First, think about the timeframe you need the forecast for.
Many traders require forecasts for intra-day values, and services providing these predictions, generally speaking, base their results on technical analysis and statistical methods.
For many companies and longer-term traders, the needs are for long-term, monthly to yearly predictions.
Normally, the longer the prediction timeframe, the bigger the errors are in the predictions. Therefore, none of the prediction services should replace own research on making currency estimates for the future.
As an exemplary list, here are some of the providers of exchange rate forecast services, some offering their service for free, other for a fee:
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