Your Top Forex Questions for April, Answered by FXPRIMUS' Mario Sant Singh

SINGAPORE, SINGAPORE--(Marketwired - May 1, 2013) - Going into May 2013 after a month in which the JPY continued selling-off, gold might remain under pressure in a "deflation" environment - based on economic releases, after a long period of central bank easing programs. Fundamentals for metals look bearish at the moment and China's near-term growth outlook looks dim.

During April, Mario Sant Singh, Director of Trading & Education at FXPRIMUS - whose views are widely sought after in the Forex industry, looked at the KRW, the JPY and the GBP and at trading styles for people with day-jobs, amongst other topics, in his AskMarioSingh.com blog, "Your toughest Forex Questions answered daily".

The Korean economy is expected to grow this year due to an export boost resulting from recovery in the U.S., and the Chinese economy, but a slumping Korean real estate market and major household debts will slow this growth, while the Bank of Japan (BoJ) continues to weaken the JPY in the long term through aggressive monetary policy, and the USD may depreciate due to ongoing quantitative easing, with the EUR expected to weaken further due to the continuous Euro Zone recession.

"Looking at the USDJPY," said Mario, "it is obvious that the Yen weakened over the past four months, and that the Japanese government will continue interfering with the Forex market to weaken the Yen to boost exports and reach a higher inflation target. In the UK, Bank of England (BoE) intend to weaken the Pound to stimulate economic growth, and I expect the Yen and Pound sell-off will continue in the long term," he said.

On trading styles for people with day-jobs, Mario recommended trading in higher time frames like swing or position trading, as having a day job doesn't allow for frequent market monitoring so trading in lower time frames with scalping or day trading might not be suitable. Mario recommended considering the use of an Expert Advisor (EA) to help trigger trades automatically. EAs that give control, include "Mirror Trader" from FXPRIMUS, which allows a trader to follow profitable trades executed by other traders.

During April, the top ten Forex trading questions (click the links for the answers) were:

1.Question from Tansl: If many traders trade news releases and the economic calendar, who trades the opposite direction?

2.Question from Simon: Where can I get correct outlooks on the JPYKRW, USDKRW and EURKRW?

3.Question from Abhi: What does the phrase "Bank of Japan scraps overnight call rate, sets base money as new target" mean?

4.Question from Mikuan: Is there more room for the USDJPY to grow since it went up sharply after the BoJ's announcement? What is the best entry price to go Long on?

5.Question from Ron: Who is more dovish, the Bank of England (BoE) or Bank of Japan (BoJ)?

6.Question from Dama Huaren: Is it necessary to use indicators, like Moving Average Convergence/Divergence (MACD) or Bollinger Bands, in Forex trading?

7.Question from AlexNg: What is the difference between Standard Deviation and Linear Regression indicators in MT4?

8.Question from Joshua: What trading style do you recommend for someone who has a day job?

9.Question from Incaman: Why should we trade with pending orders? Isn't it better to enter a trade when there is a trend change?

10.Question from Isaac: Can you explain the Commodity Channel Index (CCI) Indicator?

Mario's popular blog, his weekly market webinar, his daily and weekly market reports and his new ASEAN market review provide some of the best-informed directly-accessible educational resources that new and experienced traders can utilise to improve their knowledge of Forex and related investment markets.

Have a new question for Mario? Then ask him online at AskMarioSingh.com, and sign up to receive Mario's Forex Answer of the Day, by email.

ABOUT MARIO SANT SINGH

Mario Singh is the Director of Training & Education at global retail Forex brokerage FXPRIMUS. He has appeared as a guest expert on CNBC more than 35 times to talk about foreign exchange markets, and is a regular contributor to top investment publications and online portals. Known as a brilliant and intense communicator with a unique ability to 'keep Forex simple' and a mission to help every man-in-the-street to trade profitably and responsibly in the Forex market, more than 20,000 people have attended his Forex trading programs. He is the only Forex trader in Asia invited to train Julius Baer Private Bankers - the third largest Swiss Bank, and ICBC, China's largest commercial bank. Mario is also author of the best-selling book, 17 Proven Currency Trading Strategies: How to Profit in the Forex Market. (Wiley Publishing).

ABOUT FXPRIMUS

FXPRIMUS offers retail traders a level of trade execution, service quality and fund safety that are normally reserved only for the largest investors. Serving traders in 205 countries across 6 continents FXPRIMUS combines an unmatched level of fund safety with regular independent audits of company financials and Straight Through Processing, top notch execution with tight spreads, prompt and responsive customer support, ISO 27001 certification in Information Security and an industry-leading trader toolset that includes free access to powerful trader tools and personal coaching via FXPRIMUS Coach. FXPRIMUS truly is The Safest Place To Trade.