• Trade Now

UFXBank Daily Review - March 25, 2010

Written by ForexCult Team
Rate this item
(0 votes)

Daily Review 25/03/2010 

USD Dollar (USD) – The Dollar has consolidated major gains across the board.. The Dollar rose also after stocks in the US ended with losses. The Dow Jones lost -0.48% and the NASDAQ fell by -0.68% after an unexpected drop of -2.2% in New Home Sales which came out 308K, worse than 315K expected. Crude Oil for May delivery declined -1.8% and closed at 80.2$ a barrel. Gold (XAU) tumbled closing at 1086$ an ounce. Today, Initial Jobless Claims are expected with 450K vs. 457K previously.
EURO (EUR) – The Euro fell to fresh multi week lows against the Dollar reaching a fresh 10 month low as Fitch Ratings cut Portugal’s credit rating to AA-. Concerns that Greece’s fiscal crisis will spread to other European nations pushed the Euro lower even though that the German IFO Business Climate Index came out 98.1 better than 96 expected. The bottom of decline is uncertain as long as the Euro trades below 1.3420. Overall, EUR/USD traded with a low of 1.3310 and with a high of 1.3506. Today, Gfk German Consumer Climate is expected at 3.1 vs. 3.2 previously.
EUR/USD – Last: 1.3329

Resistance    1.338    1.342    1.348
Support    1.331       


British Pound (GBP) &ndash

Add comment

Currency converter


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.