Novice Forex traders believe that fundamental analysis is something very difficult, which requires higher education in economy, outstanding intelligence and heaps of free time for analyzing statistics, ratios, etc.
This is not true. Fundamental factors are not as difficult as lot of people think. In fact, this approach is very simple. In this article I will tell you my personal opinion on fundamental analysis, which I think is right and practical. This is purely my opinion, how to use external data in trading. This is not the ultimate truth, but I believe this method is simple and effective.
For beginning, let's look at the definition of fundamental analysis.
Fundamental analysis is an analysis of the situation on the foreign exchange market and related projections based on data that do not directly relate to the charts. This analysis based on the economy, the news of the current situation in the foreign policy of a country, as well as other factors. For example, prices for oil, gold, unemployment and other data that are not related to technical analysis.
If you go to a site with some analytics, you will see a lot of news.
And every day there is something new:
Casting a quick…
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