Without any doubt, technical analysis is very important for forex trading – it is inevitable when it comes to identifying the entry and exit points in the trading process. However, trading forex doesn’t come to finding the entries and exits only. Technical indicators are not enough for creating an all-inclusive picture of the forex market.
In this respect Forex fundamental analysis turns out to be of great use for the forex market. It is so because such factor as the forex market sentiment can’t be discarded. And the market sentiment is influenced by political and economic news at the first rate. The crucial market makers in forex such as central and investment banks, hedge funds and multinational corporations analyze the economic and political news for making forex trading decisions on a daily basis.
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