Trading in the forex market can be a daunting task, with its fast-paced environment, constant fluctuations, and numerous factors that can affect currency values.
To be a successful trader, it is essential to have a comprehensive understanding of the market and how it works. This includes being able to analyze the three key elements that makeup forex trading: fundamentals, technicals, and sentiment.
In every trading week, a large number of economic indicators are published, but only a few of them move and affect the market. I always see newbies asking questions about how fundamental analysis isn’t useful because they see numbers for US economic data for example that look good in theory but the market doesn’t act according to it and sometimes even acts against it.