Forex: Fundamental Vs Technical Analysis

There's always been a debate on which one is better during the analysis of the forex market, fundamental analysis or technical analysis?

To make it simpler to understand, I'll explain first what is the difference between these two bad boys, mainly the fundamental analysis and the technical analysis.

Fundamental Analysis: What the heck is it?

Fundamental analysis is the analysis made by using forex market news.

Where can we get the news from?

These news can be followed through economic calendars from forex websites like dailyfx.com.

How can we trade with fundamental analysis?

The idea behind fundamental analysis is that there are "news" about economic calendars on major pairs such as eur, usd, gbp etc. Most traders will watch out for these news and wait for the results to come. For example, one of the famous economic calendar in forex world that most forex traders watch is the NFP news. NFP news release are during the first week of the month on every Friday. During the release of this economic results from NFP, the market can be quite volatile and sometimes the price move more than 100 pips per candle. I suggest beginner traders not to trade during the release of NFP news as it can be quite risky if you have a little capital to start with.

Technical Analysis. Explain to me puhh-leaseee...

Technical analysis is done mainly by watching the forex market price action itself. And as always, traders mix it with technical indicators such as moving averages, RSI, fibonacci, etc.

Technical analysis involve judgement from the price reflected on the charts and many traders are looking at the same indicators, and react to a certain price level, which will in return make it a self-fulfilling prophecy.

So which trader are you? Technical or Fundamental analysis? Or both?