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Dec 23 2009, 11:50

Liberally, there was no dramatic change in USD/JPY standings. Prices are limited to a descending-curve channel built from the top in 2007 bouncing higher after a test of support in the 84.21-87.09 areas, the major bottom way back to 1995. Indications of a bullish rally continue as RSI indicates positive deviation, but whether this is going to loosen the existing downward-trend is still vague. It’s wise to stay neutral for the moment, seeking for an additional indication in the imminent days and weeks.


The weak AUD/USD reverse looks ready to pick up the pace, with prices taking out support at a slight dropping channel set from November’s swing high. The pair momentarily went back over to re-test the channel’s lower border but a Bearish Engulfing pattern has at the moment surfaced indicating that downward momentum is set to go on.
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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

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