The document is a daily forex research report from Epic Research that includes:
- Commentary on movements in the EUR/USD and GBP/USD currency pairs due to economic data releases.
- Intraday support and resistance levels for EUR/USD and GBP/USD.
- Recommendations to buy or sell the currency pairs based on breakouts of support and resistance levels.
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Daily i forex signals report by epic research singapore 01 st octobar 2014
1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
01-OCT-2014
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2. INTERNATIONAL CURRENCY BUZZ
Forex-Dollar extends rally as euro weakens.
Forex-EUR/USD hits fresh 2-year lows as inflation data disappoints .
Forex-Dollar slips vs. yen, still supported near recent highs.
EUR/USD
EUR/USD hit lows of 1.2590, the weakest since September 2012, and was last down 0.63% to 1.2605.The drop in
the euro came after official data showed that the annual rate of euro are inflation fell to a five year low of 0.3% this
month from 0.4% in August.The slowdown in inflation added to pressure on the European Central Bank to
implement additional stimulus measures to stave off the threat of deflation in the region after the bank
unexpectedly cut rates to record lows last month.A separate report showed that the euro zoneโs unemployment rate
was unchanged at 11.5% in August.Germany's unemployment rate remained unchanged at 6.7% last month, in line
with estimates.
GBP/USD
GBP/USD hit 1.6287 during European morning trade, the pair's highest since September 26; the pair subsequently
consolidated at 1.6257, adding 0.09%.Cable was likely to find support at 1.6160, the low of September 16 and
resistance at 1.6334, the high of September 26.In a revised report, the Office for National Statistics said that the
U.K. gross domestic product increased by 0.9% in the second quarter, beating expectations for 0.8% growth and up
from a previous estimate of 0.7%.Year-on-year, the U.K. economy expanded at a 3.2% rate in the second quarter,
in line with expectations.Meanwhile, the dollar remained broadly supported by the view that the strengthening
economic recovery in the U.S. would prompt the Federal Reserve to hike rates sooner.
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4. INTRADAY OUTLOOK
Support:1.2564
Resistance: 1.2614
EPIC'S ANALYST SPEAKS
EUR/USD Hourly Chart
EUR/USD Hourly Chart
RECOMMENDATION:
1. Buy EUR/USD Above 1.2616-TG:1.2636/1.2666 SL 1.2586
2. Sell EUR/USD Below 1.2562-TG:1.2542/1.2512 SL 1.2592
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5. EPIC'S ANALYST SPEAKS
GBP/USD Hourly Chart
INTRADAY OUTLOOK
Immediate Support:1.6164
Immediate Resistance: 1.6203
RECOMMENDATION:
1. Buy GBP/USD Above 1.6205-TG:1.6225/1.6255 SL 1.6175
2. Sell GBP/USD Below 1.6162-TG:1.6142/1.6112 SL 1.6192
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