EPIC RESEARCH REPORT WEEKLY INTERNATIONAL FOREX

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04 - 08 AUG-2014

Forex -Dollar weakens on soft U.S. July jobs report Forex -Japanese yen weaker in Asia as regional data mixed Forex -Dollar broadly higher vs. rivals ahead of U.S. jobs data

GBP/USD GBP/USD hit 1.6840 during European morning trade, the pair's lowest since June 12; the pair subsequently consolidated at 1.6850, shedding 0.21%.Cable was likely to find support at 1.6790, the low of June 12 and resistance at 1.6927, Thursday's high. Market research group said the U.K. manufacturing purchasing managers'index fell to 55.4 last month, from a reading of 57.5 in June. Analysts had expected the index to slip to 57.2 in July. Meanwhile, demand for the dollar remained supported after the Labor Department on Thursday reported that the U.S. employment cost index rose by 0.7% in the se conf quarter, progressing at the fastest rate since September 2008, after a 0.3% increase in the first quarter.

EUR/USDIn U.S. trading, EUR/USD was up 0.30% at 1.3431, up from a session low of 1.3378 and off a high of 1.3445.The pair was likely to find support at 1.3367, Wednesday's low, and resistance at 1.3445, the session high.The Labor Department reported earlier that the U.S. economy added 209,000 jobs in July, missing expectations for an increase of 233,000. The number of jobs added in June was revised up to a 298,000 gain from a previously estimated rise of 288,000.The report also showed that the U.S. unemployment rate ticked up to 6.2% last month from 6.1% in June. Analysts had expected the rate to remain unchanged in July. While the economy is improving, the Fed noted in its July statement on interest rates this week that slackness remains in the labor market.

INTERNATIONAL CURRENCY BUZZ

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WEEKLY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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EUR/USD DAILY CHART

INTRADAY OUTLOOKSupport: 1.3384Resistance: 1.3440

RECOMMENDATION: 1. Buy EUR/USD Above 1.3441- TG: 1.3461/ 1.3491 SL 1.34112. Sell EUR/USD Below 1.3417- TG: 1.3397/ 1.3367 SL 1.3447

EPIC'S ANALYST SPEAKS

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GBP/USD DAILY CHART

INTRADAY OUTLOOKImmediate Support: 1.6810Immediate Resistance: 1.6832

RECOMMENDATION: 1. Buy GBP/USD Above 1.6832- TG: 1.6872/ 1.6922 SL 1.67822. Sell GBP/USD Below 1.6810- TG: 1.6770/ 1.6720 SL 1.6860

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