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21-MAR-2014

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EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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INTERNATIONAL CURRENCY BUZZ

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Forex - Dollar remains higher on rate hike view, U.S. data Forex - USD/GBP at 5-week lows on Fed view, U.S. data Forex - EUR/USD near two-week lows vs. dollar EUR/USD EUR/USD was last down 0.36% to 1.3781, after falling to two-week lows of 1.3750 earlier.At the conclusion of its two-day policy setting meeting on Wednesday, the Fed said it would reduce its monthly bond purchases by an additional $10 billion to $55 billion.The dollar rallied after Fed Chair Janet Yellen indicated that the bank could begin to raise interest rates about six months after the central bank’s bond-buying program winds up, which is expected to happen this fall.The comments prompted investors to bring forward expectations for a rate hike to as early as April of next year.Meanwhile, data on Thursday showed that U.S. initial jobless claims rose less-then-expected last week, while another report showed that manufacturing activity in the Philadelphiaregion expanded at a faster rate than expected in March. GBP/USD GBP/USD was down 0.29% to 1.6490, the weakest level since February 12.Cable was likely to find support at 1.6425 and resistance at 1.6567, the session high.The dollar rallied against the other main currencies after Fed Chair Janet Yellen indicated that the bank could begin to raise interest rates about six months after its bondbuying program winds up, which is expected to happen this fall. The comments prompted investors to bring forward expectations for a rate hike to as soon as April of next year.The Fed also cut its monthly bond purchases by an additional $10 billion to $55 billion at the conclusion of its two-day policy setting meeting on Wednesday.Meanwhile, data on Thursday showed that U.S. initial jobless claims rose less-then-expected last week, while another report showed that manufacturing activity in the Philadelphia-region expanded at a faster rate than expected in March

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DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS GBP/USD Hourly Chart

INTRADAY OUTLOOK Support: 1.6480 Resistance: 1.6655 RECOMMENDATION: 1. Buy GBP/USD Above 1.6530- TG: 1.6550/ 1.6590 SL 1.6490 2. Sell GBP/USD Below 1.6480- TG: 1.6460/ 1.6420 SL 1.6520 YOUR MINTVISORY

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EPIC'S ANALYST SPEAKS EUR/USD Hourly Chart

INTRADAY OUTLOOK Immediate Support: 1.3750 Immediate Resistance: 1.3825 RECOMMENDATION: 1. Buy EUR/USD Above 1.3825- TG: 1.3845/1.3885 SL 1.3785 2. Sell EUR/USD Below 1.3750- TG: 1.3730/1.3690 SL 1.3790 YOUR MINTVISORY

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Daily iforex report by epicresearch 21th march 2014