Daily market recommendations for today Wednesday 16-04-2014

[Ahmed Mahmoud]

EURUSD Near Term : Downside favored
Pivot Point : 1.3860
EURUSD is Downside favored, So Sell at 1.386 with Target at 1.378
If breaks above pivot 1.386 Buy with Target at 1.3905

GBPUSD Near Term : Upside favored
Pivot Point : 1.6715
GBPUSD is Upside favored , So Buy at 1.6715 with Target at 1.682
If breaks below pivot 1.6715 Sell with Target at 1.665

USDJPY Near Term : Upside favored
Pivot Point : 101.80
USDJPY is Upside favored , So Buy at 101.8 with Target at 102.4
If breaks below pivot 101.8 Sell with Target at 101.45

Crude Oil Near Term : Upside favored
Pivot Point : 103.65
Crude Oil is Upside favored , So Buy at 103.65 with Target at 105.7
If breaks below pivot 103.65 Sell with Target at 103.3

Gold Near Term : Downside favored
Pivot Point : 1313
Gold is Downside favored, So Sell at 1313 with Target at 1285
If breaks above pivot 1313 Buy with Target at 1318


Most Important Forex Events for Today (GMT):
• BOJ Gov Kuroda Speaks for Japanese Yen at 06:15
• Claimant Count Change for British Pound at 08:30
• Building Permits for US Dollar at 12:30
• BOC Rate Statement for Canadian Dollar at 14:00
• BOC Press Conference for Canadian Dollar at 15:15