Daily market recommendations for today Thursday 03-04-2014

[Ahmed Mahmoud]

EURUSD Near Term : Downside favored

Pivot Point : 1.3795

EURUSD is Downside favored, So Sell at 1.3795 with Target at 1.374

If breaks above pivot 1.3795 Buy with Target at 1.382


GBPUSD Near Term : Upside favored

Pivot Point : 1.6600

GBPUSD is Upside favored , So Buy at 1.66 with Target at 1.6715

If breaks below pivot 1.66 Sell with Target at 1.655


USDJPY Near Term : Upside favored

Pivot Point : 103.25

USDJPY is Upside favored , So Buy at 103.25 with Target at 104.1

If breaks below pivot 103.25 Sell with Target at 102.95


Crude Oil Near Term : Downside favored

Pivot Point : 100.45

Crude Oil is Downside favored, So Sell at 100.45 with Target at 98.3

If breaks above pivot 100.45 Buy with Target at 101.4


Gold Near Term : Downside favored

Pivot Point : 1300

Gold is Downside favored, So Sell at 1300 with Target at 1277

If breaks above pivot 1300 Buy with Target at 1306



Most Important Forex Events for Today (GMT):

· Trade Balance for Australian Dollar at 00:30

· RBA Rate Statement for Australian Dollar at 00:30

· Services PMI for British Pound at 08:30

· ISM Non-Manufacturing PMI for US Dollar at 14:00