The exchange rate is the most important price in international exchange. For all jobs on the international market it is important to keep track of its movements. As much of market operations require a longer lead time, it is equally important to know the current exchange rate as well as the one in the future. Participants in the foreign exchange market are trying to predict the future exchange rate using various methods to shape their strategy accordingly. Numerous methods for forecasting exchange rates can be classified into four basic groups, namely technical forecasting, fundamental forecasting, market based forecasting and forecasting by a combination of methods. Each forecasting method is specific and uses different input data, so it is highly probable that the final results will differ. Exchange rates can be very volatile, so it is difficult to determine the exact value in the future. That is why every operation on the market contains the risk that companies are trying to protect themselves from in various ways.