EPIC RESEARCH REPORT WEEKLY INTERNATIONAL FOREX

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11- 15 AUG-2014

Forex -Dollar falls on European data, geopolitical concerns. Forex -CFTC - week ending August 5: speculators more bearish on Euro, Yen. Forex -Dollar rises on jobless claims, though geopolitical woes dampen gains.

GBP/USD In U.S. trading on Thursday, GBP/USD was trading down 0.08% at 1.6842 up from a session low of 1.6824 and off a high of 1.6864.Cable was likely to find support at 1.6822, Wednesday's low, and resistance at 1.6888, Tuesday's high.The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Aug. 2 fell by 14,000 to 289,000 from the previous week’s total of 303,000.Analysts Had expected jobless claims to rise by 2,000 to 305,000 last week, and the numbers fueled already growing market expectations for the Federal Reserve to close its monthly bond-buying stimulus program in October and begin hiking interest rates afterwards in 2015.

EUR/USDIn U.S. trading, EUR/USD was up 0.39% at 1.3416, up from a session low of 1.3343 and off a high of 1.3433.The pair was likely to find support at 1.3333, Wednesday's low, and resistance at 1.3445, the high from Aug. 1.Earlier Friday, data revealed that French industrial production rose 1.3% in June, exceeding expectations for a 1.0% gain, after a decline of 1.6% in May, whose figure was revised from a previously estimated 2.3% drop, which gave the euro an edge over the dollar.Elsewhere, Germany's trade surplus narrowed to €16.2 billion in June from €18.8 billion in May.Analysts had expected the trade surplus to narrow to €17.5 billion in June.Geopolitical concerns, meanwhile, weakened the dollar.

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: 1.3393Resistance: 1.3442

RECOMMENDATION: 1. Buy EUR/USD Above 1.3445- TG: 1.3465/ 1.3495 SL 1.34152. Sell EUR/USD Below 1.3390- TG: 1.3370/ 1.3340 SL 1.3420

EPIC'S ANALYST SPEAKS

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GBP/USD DAILY CHART

INTRADAY OUTLOOKImmediate Support: 1.6758Immediate Resistance: 1.6845

RECOMMENDATION: 1. Buy GBP/USD Above 1.6848- TG: 1.6868/ 1.6898 SL 1.68182. Sell GBP/USD Below 1.6755- TG: 1.6735/ 1.6705 SL 1.6785

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