EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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25-JULY-2014

INTERNATIONAL CURRENCY BUZZ

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Forex - Euro comes off lows vs. dollar after PMI’s

Forex - AUD/USD slips lower but China PMI supportsForex - Euro off lows after euro zone PMI data

USD/CADThe U.S. dollar fell to session lows against the Canadian dollar on Wednesday after data showed that Canadian retail sales rose at a faster than expected rate in May. USD/CAD touched session lows of 1.0711, before pulling back to trade at 1.0726.The pair was likely to find support at 1.0690 and resistance at 1.0775.Statistics Canada reported that retail sales rose 0.7% in May, ahead of forecasts for a 0.6% gain, while the previous month’s number was revised up to 1.3%.Core retail sales, which strip out automobile sales, rose 0.1% in May, falling short of expectations for a 0.3% increase and slowing from an upwardly revised 0.8% in April.

GBP/USDThe pound edged lower against the dollar on Wednesday as investors digested the minutes from the Bank of England's June policy meeting, with tensions in Ukraine weighing on both currencies.U.S. trading on Wednesday, GBP/USD was trading down 0.18% at 1.7034, up from a session low of 1.7024 and off a high of 1.7095.Cable was likely to find support at 1.6952, the low from June 25, and resistance at 1.7100, Monday's high.In the U.K., the minutes of the Bank of England’s June meeting released earlier revealed that policymakers voted unanimously to keep monetary policy unchanged last month.On Thursday, the U.S. is to produce data on unemployment claims, manufacturing activity and new home sales.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6999Resistance: 1.7056

RECOMMENDATION: 1. Buy GBP/USD Above 1.7061- TG: 1.7081/ 1.7111 SL 1.70312. Sell GBP/USD Below 1.6996- TG: 1.7016/ 1.7046 SL 1.7026

EPIC'S ANALYST SPEAKS

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EUR/USD Hourly Chart

INTRADAY OUTLOOKImmediate Support: 1.1079Immediate Resistance: 1.1151

RECOMMENDATION: 1. Buy EUR/USD Above 1.3529- TG: 1.3549/1.3579 SL 1.34992. Sell EUR/USD Below 1.3518- TG: 1.3498/1.3468 SL 1.3548

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