The best forex fundamental analysis site provides solid and reliable information about the financial market including forex, stocks, commodities, and cryptocurrency. There is a lot of fundamental analysis providing services available on the internet but all of them are not reliable. It is very important to find a reliable source of analysis as you are dealing with the information with real money. In today's article, we will see the importance of fundamental analysis in the forex market and a guide to find the best forex fundamental analysis site.
Before going further about the best Forex fundamental analysis site let's see what the fundamental analysis is and why it is important.
If you are a forex trader, you probably know the term technical analysis and fundamental analysis.
Technical analysis is a way to predict the movement of a currency pair based on some geometric calculations. On the other hand, fundamental analysis is the way to predict the movement of a currency pair based on the economic activities of several countries.
The forex market is based on international transactions. When two countries go through a transaction they are required to exchange their currencies to convert it as a product or service. a country with a better economic condition will have a higher value of its currency compared to a country that is not strong enough in the economy.
Main economic events that make a Movement in currency pairs are mentioned below:
Fundamental analysis is a process to predict the movement of a currency pair by evaluating Central Bank’s decisions and other fundamental releases. it is very important in Forex trading as the economic activities are the core of the movement.
However, understanding the fundamental releases and predicting the prices based on the fundamental analysis is not an easy task compared to the technical analysis. The fundamental analysis required a lot of knowledge and foundation of the economy which is often not possible for every trader. There were traders 6 for external sources and the third party or people who are experts in fundamental analysis.
In the following sections, we will see what are the best Forex fundamental analysis side and how we can access them.
The forex factory is the widely known economic calendar provider, which is very famous among traders. In this website, people are able to see a detailed statistic of economic releases with comparative results.
Furthermore, these results are available on all currency pairs that are available for trade. Therefore, whether you trade forex major currency pairs or minor currency pairs you can evaluate the result from this source.
Furthermore, if you trade on commodities, indices or cryptocurrencies you can follow the latest releases from its other sources as mentioned below:
Tradingview is another famous charting and analysis providing site, where traders from all around the world share their analysis, which is accessible to all users.
Although there is no fundamental charting or economic events, traders who post analysis based on fundamental events provide an explanation of trading in their analysis.
In Tradingview, there are many successful traders who post analysis and you can see their trading results and how prices moved after taking the trade. Furthermore, there are rankings of traders based on accuracy of the analysis.
The Forexsecret team is maintaining free analysis on The Forexsecret Tradingview Channel, which provides an extensive amount of profit for traders all around the world
Overall, if you want to analyze the market with a chart that has built-in economic events, Trading view is the best option.
Seeking Alpha is a fundamental analysis portal that provides analysis for various financial markets like Forex, stocks, indices, metals and cryptocurrency markets. This platform has many certified analysts and traders who provide a depth analysis on every financial instrument.
Furthermore, you can get latest economic releases and critical discussions on latest news. If you seek a complete analysis and opinion from a certified analyst you can seek this website.
Besides the Forex market, this website provides management and financial releases from most of the known companies in the world.
Traders with sound knowledge about fundamental analysis and economic events often struggle to predict the market based on fundamental analysis as they don't have a clear knowledge about it. Moreover, if you want to increase the probability of your trading strategy by implementing a third party opinion you can use this website.
Bloomberg is a news providing site that provides the latest economic releases, and news from all over the world. therefore if you want to evaluate the latest economic releases and seek that effect on the currency pair you can use this news portal.
Bloomberg is very easy to access as it is available on every online platform like web, Android, and IOS.
Bloomberg is a complete news portal that covers everything beyond the fundamental and economic events around the world, therefore you would get every information regarding the latest geopolitics. it is important to know the geopolitical situation as it is directly linked to the financial market.
For example, any conflict between the US and China will affect the whole world as the US dollar is the most used currency in the world and China is the world's second-largest export-oriented country and economic giant of Asia.
Forex brokers usually try to keep their traders profitable every time. Brokers make profit spread, which is deducted from traders’ accounts when they open a position.
Most of the forex brokers in the world have dedicated analysts who provide market analysis and discussion of fundamental events regularly.
Furthermore, some brokers use external sources of analysis to provide analysis to traders.
If you are a running forex trader and seeking for the best forex fundamental analysis site you can roam your broker’s website.
In the above section, we have seen the best Forex fundamental analysis sites that can help the reader to get knowledge about the latest fundamentals in economic events.
As we know the Forex market is the world's biggest and most liquid financial market. Therefore, the main participants in this place are prominent trading institutes. As a result, traders with low liquidity and retail level struggle to make money.
You may find some moments where the market moves against the fundamental releases, which is very natural. There is no way to predict the market with 100% accuracy. Therefore, you should follow a strong money management skill to reduce the overall risks.