Daily market recommendations for today Tuesday 06-05-2014

EURUSD Near Term : Upside favored
Pivot Point : 1.3870
EURUSD is Upside favored , So Buy at 1.387 with Target at 1.3935
If breaks below pivot 1.387 Sell with Target at 1.3815

GBPUSD Near Term : Upside favored
Pivot Point : 1.6865
GBPUSD is Upside favored , So Buy at 1.6865 with Target at 1.7
If breaks below pivot 1.6865 Sell with Target at 1.681

USDJPY Near Term : Upside favored
Pivot Point : 102.45
USDJPY is Upside favored , So Buy at 102.45 with Target at 101.7
If breaks below pivot 102.45 Sell with Target at 102.65

Crude Oil Near Term : Downside favored
Pivot Point : 100.50
Crude Oil is Downside favored, So Sell at 100.5 with Target at 98.2
If breaks above pivot 100.5 Buy with Target at 101.5

Gold Near Term : Upside favored
Pivot Point : 1300
[B Gold [/B] is Upside favored , So Buy at 1300 with Target at 1318
If breaks below pivot 1300 Sell with Target at 1293


Most Important Forex Events for Today (GMT):
· RBA Rate Statement for Australian Dollar at 04:30
· Services PMI for British Pound at 08:30
· Trade Balance for Canadian Dollar at 12:30
· Trade Balance for US Dollar at 12:30
· Unemployment Rate for New Zeeland Dollar at 22:45