EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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28-JULY-2014

INTERNATIONAL CURRENCY BUZZ

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Forex - EUR/USD remains near 8-month lows

Forex - GBP/USD dips on upbeat U.S. durable goods data

EUR/USD The euro remained near eight-month lows against the U.S. dollar on Friday, as growing optimism over the strength of the U.S. economic recovery supported the greenback, while poor German business climate data still pressured the single currency lower.A better-than-expected uptick in demand for durable goods in the U.S. sent the dollar firming against the euro on Friday.

GBP/USD The pound fell against a firming dollar Friday after data revealed demand for long-lasting goods and appliance was on the rise in the U.S. last month.The data came a day after the U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending July 19 declined by 19,000 to 284,000, defying market forecasts for claims to rise by 5,000.Elsewhere, sterling was up against the euro, with EUR/GBP down 0.15% at 0.7914, and down against the yen, with GBP/JPY down 0.10% at 172.77.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6963Resistance: 1.6980

RECOMMENDATION: 1. Buy GBP/USD Above 1.6980- TG: 1.7000/ 1.7030 SL 1.69502. Sell GBP/USD Below 1.6963- TG: 1.6943/ 1.6913 SL 1.6993

EPIC'S ANALYST SPEAKS

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EUR/USD Hourly Chart

INTRADAY OUTLOOKImmediate Support: 1.3424Immediate Resistance: 1.3434

RECOMMENDATION: 1. Buy EUR/USD Above 1.3434- TG: 1.3454/1.3485 SL 1.34042. Sell EUR/USD Below 1.3424- TG: 1.3404/1.3374 SL 1.3454

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