Fundamental Analysis is also important in forex trading!

Fundamental analysis and Technical analysis both are important for profitable trading.

Speaking to some of my technical analysts friends, I asked them, if they check the news release for the day. And they said yes, they do, BUT if the fundamentals are against their analysis, they base their choice on technical. To be honest most of the times, fundamentals and technical are in contradiction so you must choose either one side or the other.

If they both go along the same line, there's little problem.

Hello Mramzi- Relying on one analysis in trading sometime does not work. I think both is required for a better trading. But elaborate a little more on your comments whether it is rarely a big problem to choose both. In what case ? You may be right? we don't know?

Thanks

Yes, indeed Forex trade has been a very sensitive and one needs to have a good analytical review before entering into it. Earning profit is the main concern in Forex department ,hence you definitely need to understand fundamentals of business and evaluate it that it suits you or not.

I was referring to the situation when the fundamentals are in contradiction with the technical analysis. In that case, you must decide which to follow. Upon taking a quite interesting technical analysis seminar, I was told that you must decide which to ultimately follow and you need to hang on to that decision, otherwise you won't be able to be consistent in your trading decision taking. On the other side, technical analysis is not 100% sure. At the end of the day, it is the trader's decision should he follow the fundamentals, the technical analysis or mix them. I, personally, am trying to predict some breakout levels using fundamentals mixed with technical.