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UFXBank Daily Review - February 3, 2010

Written by ForexCult Team
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Daily Review 3/2/2010

USD Dollar (USD) – The Dollar declined across the board rising only against the Australian Dollar. The fall of the American currency was moderated on a relative quiet day in the market. Pending Home Sales data came out 1% better then than the 0.4% expected. US markets rose for the second day in a row extending its recovery after last week sell off. The Dow Jones rose by 1.10% and the NASDAQ gained 0.87%. Crude oils rose almost by 3% closing near $77 a barrel. Gold (XAU) also rose and closed at 1114$ an ounce. Today, The ADP Nonfarm Employment Change is expected at -40K vs. -84K previously.
EURO (EUR) – The Euro remains capped by 1.3980 levels despite strong recovery in Wall Street. The PPI came out 0.1% better than expected 0%. Breaching the 1.398 levels may test higher levels of 1.4120. Overall, EUR/USD traded with a low of 1.3885 and a high of 1.3974. Today, The Retail Sales is expected at 0.4% vs. -1.2% previously.
EUR/USD - Last:  1.3960

1.399    1.4025    1.4075
Support    1.39    1.385    1.3815


British Pound (GBP) &ndash

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

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We deal with clients on all levels from the beginning stages to the more advanced trading levels.

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Because of our high presence on the web, most of our business comes from the online world.

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Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
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