In the basic Forex analysis, you are basically evaluating either a business, a stock market or a Forex country. If you think it is difficult to estimate one company, you should try to evaluate an entire country. It may be difficult to do, but there are indicators that can be studied to give insight into how the country works. Some of the indicators that you may want to consider during Forex analysis are: Nonfarm Payrolls, Consumer Price Index (CPI), Purchasing Managers Index (PMI), Durable Goods, and Retail Sales.
In the Forex market, most traders use the basic Forex analysis to predict long-term trends. However, some traders do short-term trading based on the reaction of various newsletters. There are a variety of meetings where you can get a comment which can affect the markets as much as affect any press release or index report. All these meetings often discuss interest rates, inflation and other issues that will affect currency values.
You should monitor two important meetings, Humphrey Hawkins Hearings and the FOMC. For example, the Fed Chairman's comments on interest rates will cause market volatility.
By reading the reports and checking the commentary, the underlying Forex analyst can get a better understanding of most of the long-term Forex market trends. Keeping track of developments in the forex market will allow traders in the short term to benefit from extraordinary events. If you decide to follow a basic Forex strategy, you will need to keep the economic calendar at hand at all times. Your Forex broker may also be able to provide you with real-time access to this type of information for use in your Forex analysis.