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26-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 extends losses on ECB comments Dollar higher against euro, pound steady Forex - Euro slips lower after German Ifo disappoints EUR/USD EUR/USD was last trading at 1.3787, down 0.39% for the day.The pair was likely to find support at 1.3748, last Thursday’s low and resistance at 1.3800.The drop in the euro came after ECB governing council member and Bundesbank chief Jens Weidmann said a negative deposit rate could be an appropriate way to address the impact of strong gains in the euro.He also said it was not out of the question for the ECB to buy loans or other assets from banks to fight deflation, indicating a softening of the Bundesbank’s stance on quantitative easing.Separately, ECB Governing Council member Josef Makuch said the bank is prepared to take decisive steps if necessary, adding that many policy options are available, including adding liquidity.The euro slipped against the dollar earlier after a report showed that the German Ifo business confidence index dropped to 110.7 in March from 111.3 in February. Analysts had expected the index to tick down to 111.0. EUR-GBP

EUR/GBP down 0.44% to 0.8350.In the U.K., official data on Tuesday showed that the annual rate of inflation fell to a more than four-year low of 1.7% in February, from 1.9% in January. January was the first time in more than four years that the U.K. inflation rate fell below the Bank of England’s 2% target. The decline in inflation will give the Bank of England leeway to keep rates on hold for longer, even as the economy continues to make a rapid recovery.

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DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS GBP/USD Hourly Chart

INTRADAY OUTLOOK Support: 1.6460 Resistance: 1.6530 RECOMMENDATION: 1. Buy GBP/USD Above 1.6530- TG: 1.6550/ 1.6590 SL 1.6490 2. Sell GBP/USD Below 1.6460- TG: 1.6440/ 1.6440 SL 1.6500 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 signals report by epicresearch 26th march 2014  
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