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UFXBank Daily Review - April 6, 2010

Written by ForexCult Team
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Daily Review 06/04/2010  

USD Dollar (USD) – The Dollar fell against most of its major counterparts as stronger than expected U.S. data added to evidence a recovery in the world’s largest economy is gaining momentum. Pending Home Sales Index came out 8.2% vs. -0.5% expected and the ISM Non-Manufacturing Index came out 55.4 vs. 53.5 expected. The Stock markets in US climbed up with Dow Jones rose by 0.43% and NASDAQ appreciated 1.12%. Crude oil reached 18 month high closing at 86.8$ a barrel and Gold (XAU) jumped to 2 week high closing at 1131.65$ an ounce. Today, the FOMC Meeting Minutes might provide a clue regarding future interest rate shifts.
EURO (EUR) – The European currency traded in a tight range versus the Dollar around the 1.35 level, and closed below it. As the Easter Monday holiday over, we might see a recovery of the pair if it won't fall below the 1.3370 area. Overall, EUR/USD traded with a low of 1.3459 and with a high of 1.3537. Today The Sentix Investor Confidence is expected at -6 vs. -7.5 previously.
EUR/USD – Last: 1.3463

Resistance    1.35    1.3530    1.3580
Support    1.3430    1.34    1.3350


British Pound (GBP) –

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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.

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.
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