Abstract
Foreign Exchange (Forex) market is a financial market that is totally liquid and highly volatile. Traders earn money by placing buying or selling orders on currency pairs by analyzing the market behaviour before they place any orders. There are two types of analysis namely fundamental analysis and technical analysis. Technical analysis is based on historical price data. Several attempts have been made to forecast the forex prices. Among them time series forecasting is significant. According to Efficient Market Hypothesis (EMH) theory and random walk theory, future prices are independent of the historical prices in financial markets. Thus, to overcome the challenge faced by existing method for technical analysis of short-term trend forecasting in Forex prices was proposed by integrating a DRNN and ARMIA model. Our results have proven the potential for forecasting future Forex prices with a reasonable accuracy.
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