1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
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23-JAN-2015

2. INTERNATIONAL CURRENCY BUZZ
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Forex-Dollar hovers close to multi-year highs, ECB statement on tap.
Forex-GBP/USD edges higher as sentiment mildly improves.
Forex-Euro slips lower as markets look to ECB.
GBP/USD
GBP/USDhit 1.5173 during European morning trade, the session high; the pair subsequently consolidated at
1.5169, adding 0.17%.Investors were waiting to see if the ECB would embark on a large scale quantitative easing
program later in the day.Earlier Thursday, the Office for National Statistics said that U.K. public sector net
borrowing rose to £12.47 billion last month from a revised £11.73 billion in November, whose figure was revised
from a previously estimated £13.41 billion.Analysts had expected public sector net borrowing to decline to £9.7
billion in December.The pound had weakened on Wednesday after the minutes of the Bank of England's January
policy meeting showed that members voted unanimously to keep the asset puschase facility program on hold.
EUR/USD
EUR/USD was steady at 1.1617. Sentiment on the single currency remained vulnerable as investors waited to see if
the ECB would embark on an outright quantitative easing program on Thursday.Uncertainty over the outcome of
Greek elections, due to be held on Sunday, with anti-bailout party Syriza leading in the polls also weighed.Earlier
Thursday, official data showed that Spain's unemployment rate remained unchanged at 23.7% in the fourth
quarter, confounding expectations for a slip to 23.6%.The U.S. dollar index, which measures the greenback’s
strength against a trade-weighted basket of six major currencies, was down 0.19% to 93.18.

3. DAILY ECONOMIC DATA
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INTRADAY OUTLOOK
Support: 1.5120
Resistance: 1.5201
RECOMMENDATION:
1. Buy GBP/USD Above 1.5203-TG: 1.5223/1.5253 SL 1.5173
2. Sell GBP/USD Below 1.5118-TG: 1.5098/1.5068 SL 1.5148
EUR/USD Hourly Chart
EPIC'S ANALYST SPEAKS
GBP/USD Hourly Chart

5. EPIC'S ANALYST SPEAKS
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EUR/USD Hourly Chart
INTRADAY OUTLOOK
Immediate Support: 1.1614
Immediate Resistance: 1.1678
RECOMMENDATION:
1. Buy EUR/USD Above -1.1680 TG: 1.1700/1.1730 SL 1.1650
2. Sell EUR/USD Below -1.1612 TG:1.1592/1.1562 SL 1.1642

6. DISCLAIMER
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