The document provides a daily report on international forex markets with the following key points: - The euro hit a fresh 2.5 year high against the dollar and was up 0.35% as the ECB refrained from measures to boost growth. - The dollar trimmed losses against the yen after U.S. retail sales and unemployment claims data beat expectations. - Intraday analysis and recommendations are provided for buying or selling the GBP/USD and EUR/USD currency pairs based on support and resistance levels.

1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
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14-MAR-2014

2. INTERNATIONAL CURRENCY BUZZ
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➔ Forex - Dollar trims losses vs. yen after U.S. data
➔
Forex - Euro hits fresh 2-1/2 year highs against dollar
➔
Forex - Dollar slumps against Swiss franc
EUR/USD
EUR/USD hit 1.3966, the highest since October 31 2011, and was last up 0.35% to 1.3951.The pair was likely to
find support at 1.3895, the session low and resistance at 1.4000.The common currency continued to gain
momentum following last week’s decision by the ECB to refrain from implementing policy measures to shore up
growth in the euro area, despite forecasting low inflation for some years to come.
Speaking Wednesday, German Finance Minister Wolfgang Schauble said interest rates in the euro zone are too
low from a German point of view. He also said he doesn’t expect deflation to materialize in the euro zone.
USD/JPY
USD/JPY was last down 0.10% to 102.66 after falling to one-week lows of 102.42 earlier in the session.The pair
was likely to find support at 102.25 and resistance at 103.09, Wednesday’s high.The dollar found support after
the Commerce Department reported that retail sales rose 0.3% in February, ending two months of declines.
Market expectations had been for an increase of 0.2%.Core retail sales, which exclude automobile sales, also rose
0.2% last month, ahead of expectations for a 0.3% rise.Separately, the Department of Labor said the number of
people filing new claims for unemployment benefits fell by 9,000 to a three month low of 315,000 last week,
from the previous week’s revised total of 324,000.Analysts had expected initial jobless claims to rise by 6,000 last
week.Demand for the safe haven yen continued to be underpinned after weaker-than-expected data from China
pointed to a slowdown in the world’s second-largest economy at the start of the year.

3. DAILY ECONOMIC DATA
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4. EPIC'S ANALYST SPEAKS
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GBP/USD Hourly Chart
INTRADAY OUTLOOK
Support: 1.6580
Resistance: 1.6740
RECOMMENDATION:
1. Buy GBP/USD Above 1.6730- TG: 1.6750/ 1.6790 SL 1.6690
2. Sell GBP/USD Below 1.6580- TG: 1.6560/ 1.6520 SL 1.6620

5. EPIC'S ANALYST SPEAKS
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EUR/USD Hourly Chart
INTRADAY OUTLOOK
Immediate Support: 1.3890
Immediate Resistance: 1.4060
RECOMMENDATION:
1. Buy EUR/USD Above 1.3970- TG: 1.3990/1.4030 SL 1.3930
2. Sell EUR/USD Below 1.3930- TG: 1.3910/1.3870 SL 1.3970

6. DISCLAIMER
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