Both kinds of analyses are important and may give you the total understanding of the market. However, in most of the cases I am quite skeptical about fundamental analysis in forex market. I mean that there are so many different factors which may influence currency prices, that it is next to impossible for me to follow all the news which may be important. So, I actually do technical analysis and it helps a lot. Fundamental analysis works well before some major events like NFP or something like that. It is capable of giving you insights of what is going to happen.