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13-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 re-approaches 2-1/2 year highs vs. dollar Forex - Canadian dollar slides lower against U.S. dollar Forex - Swiss franc stronger amid heightened risk aversion EUR/USD EUR/USD hit 1.3905, the highest since Friday and was last up 0.27% to 1.3897, not far from Friday’s peaks of 1.3915, the highest level since October 31, 2011.The pair was likely to find support at 1.3842, the session low and resistance at 1.3915.The euro was boosted after ECB executive board member Benoit Coeure said the bank did not see indication of deflation in the euro area, but it remained a possible risk."We don't see deflation in the euro zone. We see it as a possible risk, and we have to be ready to act against the risk if it materializes," he said.He added that the central bank has a number of policy measures at its disposal to address the problem.The euro strengthened broadly after the ECB left interest rates at a record low 0.25% at its policy meeting last week and implemented no new policy measures to shore up growth, despite forecasting low inflation for years to come.. USD-CAD USD/CAD hit 1.1154, the highest since February 27 and was last up 0.29% to 1.1137.The pair was likely to find support at 1.1070, Tuesday’s low and resistance at 1.1180.Safe haven demand continued to be underpinned by worries over the outlook for China’s economy after data over the weekend showed that exports dropped 18.1% in February and inflation slowed.The unexpectedly weak data raised fresh concerns over the strength of the world’s second-largest economy.Investors were also on edge after China’s first domestic bond default last Friday fuelled fears over problems in the country’s financial sector.Commodity prices were hit by concerns over weakening demand from China. Copper prices fell to the lowest level since 2010 and crude oil prices also weakened. Canada is a major exporter of crude and its dollar is sensitive to fluctuations in oil prices.

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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: 1.6670 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: 1.3820 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 13th march 2014