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UFXBank Daily Review - April 15, 2010

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Daily Review 15/04/2010  

USD Dollar (USD) – The Dollar fell against most majors as a bigger-than-expected increase in U.S. retail sales last month spurred demand for riskier assets, came out at 1.6% vs. 1.1% forecast. In addition, Federal Reserve Ben Bernanke said the U.S. expansion will remain moderate as the economy contends with weak construction spending and high unemployment. NASDAQ and Dow Jones strengthened by 1.58% and 0.94% respectively, crude oil jumped by 2.3% closing at 86$ a barrel, Gold(XAU) increased by 0.5% closing at  1159.6$ an ounce the strongest levels since Decembers. Today, Unemployment Claims are expected to weak from 460K to 439K, TIC Long-Term Purchases are expected to rise from 19.1B to 39.2B, Philly Fed Manufacturing Index is expected at 19.8 vs. 18.9 prior.

The Euro rose against the Dollar after good data which released during the day in the euro zone and in the US succeed to increase the stocks market and higher risky currencies. The main resistance on the one hour chart is located at 1.3700 if this level breaks up a long positions is preferred. Overall, EUR/USD traded with a low of 1.3594 and with a high of 1.3679.Today, ECB Monthly Bulletin.
Last: 1.3645

Resistance    1.3695        
Support    1.3545    1.3500    1.3380


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.
  • 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.
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