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1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
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18-MAY-2017

2. INTERNATIONAL CURRENCY BUZZ
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Forex - Dollar index extends losses, hits fresh six-month trough
Forex - Sterling touches day’s highs after UK jobs report
Forex - EUR/USD inter-markets: Trump drives the sentiment
GBP/USD
The bid tone around the British Pound is picking up extra pace today, pushing GBP/USD to test fresh daily peaks near
1.2980 just to run out of steam soon afterwards. Cable climbed to fresh 5-day tops closer to the psychological 1.3000
handle in the middle of the week, always boosted by the persistent sell-off in the greenback and mixed results from the
latest UK’s jobs report published earlier today. In fact, tracked by the US Dollar Index, the buck has retreated to fresh 6-
month lows near 97.80, where it is now looking to consolidate as some dip-buyers seem to have turned up. Data wise, the
jobless rate in the UK economy ticked lower to 4.6% while Claimant Count Change rose more than expected by 19.4K
during last month. Later in the week, April’s Retail Sales are due tomorrow.
EUR/USD
EUR/USD has clinched fresh 6-month tops beyond 1.1100 the figure for the first time since early November on
Wednesday, all exclusively sponsored by a dollar’s play. In fact, another controversy around President Trump, this time
involving the FBI and Russia, has sparked quite a sharp correction in the buck. In fact, in terms of the US Dollar Index
(DXY), the greenback has fully retraced the November-January rally, which was, in turn, fuelled precisely by… Trump
becoming US President!. In the meantime, yields in the German money markets are looking to consolidate in the upper
end of the recent range, as opposed by their US peers, which are currently challenging monthly lows. Looking at the
broader picture, the likeliness of further tightening by the Federal Reserve at some point in the near/medium term should
alleviate some upside pressure in spot and cap gains somewhat.

3. DAILY ECONOMIC DATA
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INTRADAY OUTLOOK
Support: 1.2819
Resistance: 1.3007
RECOMMENDATION:
BUY GBP/USD ABOVE 1.2980 TGT 1.3000 1.3030 SL 1.2950
SELL GBP/USD BELOW 1.2930 TGT 1.2910 1.2880 SL1.2960
EUR/USD Hourly Chart
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart

5. EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.0923
Resistance: 1.1177
RECOMMENDATION:
BUY EUR/USD ABOVE 1.1130 TGT 1.1150 1.1180 SL 1.110
SELL EUR/USD BELOW 1.1080 TGT 1.1060 1.1030 SL 1.1110
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6. DISCLAIMER
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Lovelesh
Sharma
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Date: 2017-05-17 21:34+05:30