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NEW YORK
19:05
LONDON
00:05
PARIS
01:05
FRANKFURT
01:05
HONG KONG
06:05
TOKYO
08:05
SYDNEY
09:05
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UFXBank Daily Review - April 7, 2010

Written by ForexCult Team
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Daily Review 07/04/2010 

USD Dollar (USD) – The Greenback lost momentum across the board at a moderate pace after the release of the FOMC stance that downgraded both GDP and inflation perspective for the US. The Stock markets in US finished mixed with Dow Jones losing only -0.03% and NASDAQ appreciated 0.3%. Crude oil for May delivery touched $87.09 a barrel in New York, the highest level since Oct 2008 but closed almost unchanged at 86.75$ a barrel and the Gold (XAU) still moving up closing at 1134$ an ounce. Today, The Fed Governor Ben Bernanke will speak and it might determine a short term trend for the Dollar.
EURO (EUR) – The Euro weakened against the Dollar as Greece issues keep weighting strongly on it. The Sentix Investor Confidence came out 2.5 better than expected -6. A deeper decline of the pair might be seen if it falls below the 1.3370 area. Overall, EUR/USD traded with a low of 1.3354 and with a high of 1.3496. Today, the GDP is expected unchanged at 0.1%. The PPI is expected at 0.2% vs. 0.7% previously and The German Factory Orders are expected at -1% vs. 4.3% previously.
EUR/USD – Last: 1.3385

Resistance    1.3420    1.3470    1.3530
Support    1.3360    1.3320    1.3270

EURUSD""

British Pound (GBP) –

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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.
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