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

2. INTERNATIONAL CURRENCY BUZZ
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Forex - Dollar index hits fresh 6-month lows amid U.S. political woes
Forex - EUR/USD records fresh 2017 tops near 1.1180
Forex - GBP/USD: Risk of trading close to the 1.25 area by the end of the year
GBP/USD
“Although the magnitude of last night’s move will have raised a lot of eyebrows, we would argue that cable’s fall back
below the 1.30 level was less of a revelation. In the past week or so there have been clear signs that the short-covering
pressure that lifted cable from its early March levels was running out of steam. Although cable is again testing the 1.30
levels this morning, assuming some stabilisation in the value of the USD, we continue to view rallies above this level as
selling opportunities.” “Going forward, concerns about slowing UK economic growth provide a poor backdrop for the
pound. That said, political uncertainty is likely to be the main reason why the market is likely to hold onto sizeable short
GBP positions. On April 18 when PM May announced the surprise general election, GBP/USD surged.”
EUR/USD
The demand for the single currency is gathering further traction on Friday, now lifting EUR/USD to fresh YTD tops in the
1.1170/80 band. The greenback – in terms of the DXY - has quickly left behind any hint of optimism following yesterday’s
bullish attempt to the 97.80 area, now returning to the region of yearly lows in the 97.30/20 band while propelling the
pair to the upper end of the recent range and closer to the key 1.1200 handle. US political jitters continue to weigh on the
buck today, as the recent controversy involving President Trump stays in centre stage and increases the uncertainty over
the near term future of the Trump’s administration. Furthermore, recent comments by ECB’s B.Coure sounded quite
optimistic although he expressed doubts about allowing inflation to run above the central bank’s target.

3. DAILY ECONOMIC DATA
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INTRADAY OUTLOOK
Support: 1.2798
Resistance: 1.3122
RECOMMENDATION:
BUY GBP/USD ABOVE 1.3040 TGT 1.3060 1.3090 SL 1.3010
SELL GBP/USD BELOW 1.3010 TGT 1.2990 1.2960 SL 1.3040
EUR/USD Hourly Chart
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart

5. EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1016
Resistance: 1.1216
RECOMMENDATION:
BUY EUR/USD ABOVE 1.1220 TGT 1.1240 1.1270 SL 1.1190
SELL EUR/USD BELOW 1.1180 TGT 1.1160 1.1130 SL 1.1210
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6. DISCLAIMER
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Lovelesh
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Date: 2017-05-20 14:19+05:30