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UFXBank Daily Review - January 14, 2010

Written by ForexCult Team
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Daily Review 14/01/2010 

USD Dollar (USD) – The Dollar weakened against 12 of the 16 most traded currencies after the Federal Reserve said that a modest economic recovery is broadening. NASDAQ and Dow Jones rose by 1.12% and 0.50% respectively. Crude oil fell for a 3rd day after U.S. inventories report showed an increase of 3.7M barrels as demand dropped. Crude prices decreased by -1.4% closing at 79.65$ a barrel. Gold (XAU) rose by 0.7% closing at 1136.8$ an ounce. Today, Retail Sales are expected with 0.4% vs. 1.3% prior, Unemployment Claims are expected to increase from 434K to 438K,
 EURO (EUR) – The Euro strengthened against the Dollar and the Yen after Greek Finance Minister George Papaconstantinou said the nation is on the right track to solve its problems and does not need bailing out. EUR/USD has been struggling with the 1.45 level but as long as it remains above 1.4480 it is still bullish. Overall, EUR/USD traded with a low of 1.4456 and a high of 1.4579.Today, the ECB will release its' interest rate decision which is expected to remain at 1.0%, ECB Press Conference will follow the decision.
EUR/USD – Last: 1.4540

Resistance    1.4557    1.4580   
Support    1.4455    1.44    1.4275


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..

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My advice to the beginning trader entering the Forex world is as follows:
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