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26-MAY-2014

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EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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INTERNATIONAL CURRENCY BUZZ

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Forex - GBP/USD falls on upbeat U.S. new home sales numbers Forex - EUR/USD falls on upbeat U.S. housing data Forex - Dollar gains as U.S. new home sales beat expectations EUR/USD EUR/USD was down 0.19% at 1.3630, up from a session low of 1.3616 and off a high of 1.3688.The pair was likely to find support at 1.3483, the low from Feb. 6, and resistance at 1.3723, Wednesday's high.The housing sector, which threw the U.S. economy into the worst downturn since the Great Depression and lagged on its recovery for years, is on the mend.The Census Bureau reported earlier that U.S. new home sales rose 6.4% to 433,000 units in April from 407,000 units in March, whose figure was revised up from a previously estimated 384,000. Analysts had expected new home sales to rise to 425,000 units last month.A day earlier, the National Association of Realtors reported that exis GBP/USD GBP/USD was trading at 1.6842, down 0.17%, up from a session low of 1.6830 and off a high of 1.6876.Cable was likely to find support at 1.6802, Tuesday's low, and resistance at 1.6921, Wednesday's high.The Census Bureau reported earlier that U.S. new home sales rose 6.4% to 433,000 units in April from 407,000 units in March, whose figure was revised up from a previously estimated 384,000. Analysts had expected new home sales to rise to 425,000 units last month.A day earlier, the National Association of Realtors reported that existing home sales increased 1.3% in April to an annual rate of 4.65 million units, and hopes that the U.S. housing sector is improving strengthened demand for the dollar on Friday.The pound, meanwhile, continued to come under pressure after data on Thursday confirmed that the U.K. economy grew 0.8% in the first quarter of the year from the previous quarter and 3.1% on year, disappointing some market expectations for upward revisions.

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DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS GBP/USD Hourly Chart

INTRADAY OUTLOOK Support: 1.6800 Resistance: 1.6860 RECOMMENDATION: 1. Buy GBP/USD Above 1.6860- TG: 1.6880/ 1.6910 SL 1.6828 2. Sell GBP/USD Below 1.6800- TG: 1.6780/ 1.6750 SL 1.6830 YOUR MINTVISORY

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EPIC'S ANALYST SPEAKS EUR/USD Hourly Chart

INTRADAY OUTLOOK Immediate Support: 1.3610 Immediate Resistance: 1.3660 RECOMMENDATION: 1. Buy EUR/USD Above 1.3660- TG: 1.3680/1.3710 SL 1.3630 2. Sell EUR/USD Below 1.3610- TG: 1.3590/1.3560 SL 1.3640 YOUR MINTVISORY

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Daily iforex signals report by epicresearch 26th may 2014