Daily market recommendations Thursday 05-12-2013

[Ahmed Mahmoud]

EURUSD Near Term : Upside favored
Pivot Point : 1.3565
EURUSD is Upside favored , So Buy at 1.3565 with Target at 1.362
If breaks below pivot 1.3565 Sell with Target at 1.352

GBPUSD Near Term : Downside favored
Pivot Point : 1.6450
GBPUSD is Downside favored ,So Sell at 1.645 with Target at 1.632
If breaks above pivot 1.645 Buy with Target at 1.65

USDJPY Near Term : Downside favored
Pivot Point : 102.45
USDJPY is Downside favored ,So Sell at 102.45 with Target at 101.8
If breaks above pivot 102.45 Buy with Target at 102.7

Crude Oil Near Term : Upside favored
Pivot Point : 95.25
Crude Oil is Upside favored , So Buy at 96.25 with Target at 98
If breaks below pivot 96.25 Sell with Target at 95.6

Gold Near Term : Upside favored
Pivot Point : 1225
Gold is Upside favored , So Buy at 1225 with Target at 1255
If breaks below pivot 1225 Sell with Target at 1217



Most important Forex Events for Today(GMT)
• Official Bank Rate for British Pound at 12:00
• Asset Purchase Facility for British Pound at 12:00
• ECB Press Conference for Euro at 13:30
• Prelim GDP for US Dollar at 13:30
• Unemployment Claims for US Dollar at 15:00