There are 2 types of analysis you can take when approaching the forex:

Fundamental analysis and Technical analysis.

There has always been a constant debate as to which analysis is better, but to tell you the truth, you need to know a little bit of both.

Fundamental analysis:

Fundamental analysis is a method used to evaluate the worth of a security by studying the financial data of the issuer.

It scrutinizes the issuer's income and expenses, assets and liabilities, management, and position in its industry.

In other words, it focuses on the "basics" of the business.