In a basic Forex analysis, you basically evaluate either a business, a stock market, or a country, for Forex. If you find it difficult to evaluate a company, you should try to evaluate an entire country. It can be difficult to do, but there are indicators that can be studied to see how the country works. Some indicators that you may need to study during Forex analysis are: Non-payroll, Consumer Price Index (CPI), Purchasing Manager Index (PMI), Durable Goods and Retail.
In the Forex market, most traders use basic Forex analysis to predict long term trends. But some traders make short term trades based on the reaction of different news. There are quite a few different meetings where you can get feedback and this can affect markets as much as any newsletter or index report. All of these meetings are often discussed about interest rates, inflation and other issues that will affect monetary values.
You should attend two important meetings, these are the Humphrey Hawkins reports and the Federal Open Market Committee. For example, Federal Reserve Chairman's comments on interest rates will cause market volatility.
By reading the reports and examining the comments, a key Forex analyst can better understand most of the long-term trends in the Forex market. Keeping up with the developments in the Forex market will allow short-term traders to benefit from the extraordinary events. If you decide to follow a fundamental Forex strategy, you will want to keep a financial diary practical at all times. The Forex broker can also provide you with this kind of real time information for use in your Forex analysis.