Daily market recommendations for today Wednesday 05-03-2014

EURUSD Near Term : Downside favored
Pivot Point : 1.3790
EURUSD is Downside favored , So Sell at 1.379 with Target at 1.3695
If breaks above pivot 1.379 Buy with Target at 1.383

GBPUSD Near Term : Downside favored
Pivot Point : 1.6715
GBPUSD is Downside favored , So Sell at 1.6715 with Target at 1.664
If breaks above pivot 1.6715 Buy with Target at 1.6735

USDJPY Near Term : Upside favored
Pivot Point : 101.8
USDJPY is Upside favored , So Buy at 101.8 with Target at 102.4
If breaks below pivot 101.8 Sell with Target at 101.4

Crude Oil Near Term : Under pressure
Pivot Point : 102.85
Crude Oil is Under pressure, So Sell at 102.85 with Target at 105.25
If breaks above pivot 102.85 Buy with Target at 101.8

Gold Near Term : Upside favored
Pivot Point : 1330
Gold is Upside favored , So Buy at 1330 with Target at 1354
If breaks below pivot 1330 Sell with Target at 1322


Most Important Forex Events for Today (GMT):
• GDP for Australian Dollar at 00:30
• Services PMI for British Pound at 09:30
• ADP Non-Farm Employment Change for US Dollar at 13:15
• BOC Rate Statement for Canadian Dollar at 15:00