EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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26-MAY-2014

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 exisGBP/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.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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GBP/USD Hourly Chart

INTRADAY OUTLOOKSupport: 1.6800Resistance: 1.6860

RECOMMENDATION: 1. Buy GBP/USD Above 1.6860- TG: 1.6880/ 1.6910 SL 1.68282. Sell GBP/USD Below 1.6800- TG: 1.6780/ 1.6750 SL 1.6830

EPIC'S ANALYST SPEAKS

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EUR/USD Hourly Chart

INTRADAY OUTLOOKImmediate Support: 1.3610Immediate Resistance: 1.3660

RECOMMENDATION: 1. Buy EUR/USD Above 1.3660- TG: 1.3680/1.3710 SL 1.36302. Sell EUR/USD Below 1.3610- TG: 1.3590/1.3560 SL 1.3640

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