Daily market recommendations for today Thursday 22-05-2014

EURUSD Near Term : Downside favored
Pivot Point : 1.3700
EURUSD is Downside favored, So Sell at 1.37 with Target at 1.364
If breaks above pivot 1.37 Buy with Target at 1.372

GBPUSD Near Term : Upside favored
Pivot Point : 1.6830
GBPUSD is Upside favored , So Buy at 1.683 with Target at 1.6935
If breaks below pivot 1.683 Sell with Target at 1.68

USDJPY Near Term : Upside favored
Pivot Point : 101.10
[B USDJPY [/B] is Upside favored , So Buy at 101.1 with Target at 101.9
If breaks below pivot 101.1 Sell with Target at 100.8

Crude Oil Near Term : Upside favored
Pivot Point : 102.90
Crude Oil is Upside favored , So Buy at 102.9 with Target at 104.3
If breaks below pivot 102.9 Sell with Target at 102

Gold Near Term : Downside favored
Pivot Point : 1297
Gold is Downside favored, So Sell at 1297 with Target at 1283
If breaks above pivot 1297 Buy with Target at 1307


Most Important Forex Events for today (GMT):
• Flash Manufacturing PMI for German Euro at 07:30
• Core Retail Sales for Canadian Dollar at 12:30
• Unemployment Claims for US Dollar at 12:30
• Existing Home Sales for US Dollar at 14:00