.
NEW YORK
23:04
LONDON
04:04
PARIS
05:04
FRANKFURT
05:04
HONG KONG
10:04
TOKYO
12:04
SYDNEY
13:04
  • Trade Now

UFXBank Daily Review - January 12, 2010

Written by ForexCult Team
Rate this item
(0 votes)

Daily Review 12/01/2010 

USD Dollar (USD) – The Dollar remained weak against most currencies, as a risk appetite has been triggered and signs of a global economic recovery boosted demand for higher-yielding and commodity linked currencies. Wall Street finished mixed as Dow Jones rose by 0.43% and NASDAQ depreciated by -0.21%. Crude oil rose to new high during the session but then dropped and closed with -0.62% change at 82$ a barrel. Gold (XAU) soared and closed at 1150.7$ an ounce. Today, The Trade Balance index is expected at -34.5B vs. -32.9B previously.


EURO (EUR) – The Dollar traded at almost a 3 week low against the Euro on increased speculation that the Federal Reserve will maintain its policy of keeping interest rates at their record lows as the U.S. labor market remains weak. The French Industrial Production came out 1.1% better than 0.4% expected. EUR/USD has been struggling to remain above 1.45 and has a major resistance at 1.47 as the 50 and 100 moving day averages collide. As long as it holds above 1.4480 the Euro remains bullish. Overall, EUR/USD traded with a low of 1.4401 and with a high of 1.4555. Today, no economic data expected.


EUR/USD – Last: 1.4505

Resistance    1.456    1.459    1.463
Support    1.448    1.444    1.4415

EURUSD""


 

Add comment



Currency converter
Amount:
From:
To:


Polls

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.

3. What type of clients you deal with?

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

4. Does most of your business activity come from the online or offline world?

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

5. Why should a trader pick XForex from all forex brokers?

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.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.