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12-MAR-2014

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EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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INTERNATIONAL CURRENCY BUZZ

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Forex - Euro hits session lows after ECB’s Constancio’s remarks Forex - Pound slightly lower after mixed U.K. data Forex - Euro hits session lows after ECB’s Constancio’s remarks EUR/USD EUR/USD hit 1.3835, the lowest level since March 6 and was last down 0.28% to 1.3837The pair was likely to find support at 1.3800 and resistance at 1.3877, the session high.The euro’s losses came after Constancio said the bank made its forward guidance on the existence of slack in the euro zone economy more precise, but this was not picked up by markets."The forward guidance was made more precise in relation to the existence of this slack. Unfortunately ... this was not picked up by the markets," he said.He also said the central bank still had policy options available, including lower interest rates or quantitative easing, if necessary.The ECB left monetary policy on hold at last Thursday’s meeting, and refrained from implementing any new measures to shore up growth, despite forecasting below target inflation for the next few years. GBP/USD GBP/USD dipped 0.09% to 1.6629 and was trading in a range of 1.6616 and 1.6654.Cable was likely to find support at 1.6582, the low of February 24 and resistance at 1.6685.Manufacturing production rose 0.4% in January, the Office for National Statistics reported, above expectations for a 0.3% gain, while December’s figure was revised up to a 0.4% increase from a previously reported gain of 0.3%.On a year-over-year basis, manufacturing production rose 3.3%, up from 1.4% in December.Industrial output rose 0.1% in January, slowing sharply after a 0.5% increase in December and was up 2.9% from a year earlier. Analysts had expected industrial output to rise 0.2% in January.Meanwhile, Bank of England Governor Mark Carney said Tuesday there was a range of views among the bank’s monetary policy committee members on the amount of spare capacity in the U.K. economy.

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DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS GBP/USD Hourly Chart

INTRADAY OUTLOOK Support: 1.6580 Resistance: 1.6770 RECOMMENDATION: 1. Buy GBP/USD Above 1.6665- TG: 1.6685/ 1.6725 SL 1.6625 2. Sell GBP/USD Below 1.6580- TG: 1.6560/ 1.6520 SL 1.6620 YOUR MINTVISORY

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EPIC'S ANALYST SPEAKS EUR/USD Hourly Chart

INTRADAY OUTLOOK Immediate Support: 1.3750 Immediate Resistance: 1.3900 RECOMMENDATION: 1. Buy EUR/USD Above 1.3900- TG: 1.3920/1.3960 SL 1.3860 2. Sell EUR/USD Below 1.3845- TG: 1.3825/1.3785 SL 1.3885 YOUR MINTVISORY

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Daily iforex report by epicresearch 12th march 2014