- The Euro sharply fell after the Swiss National Bank abandoned its currency cap and cut interest rates. The New Zealand dollar rose but further gains are limited. The British pound slid lower against the stronger US dollar. - The GBP/USD pair hit a low of 1.5201 during European trading and consolidated at 1.5187, down 0.31% as the dollar regained ground after US retail sales fell more than expected. Separately, UK inflation slowed which adds to expectations that interest rates will remain low. - The EUR/USD dipped to 1.1773, near nine-year lows, as the dollar weakened after weak US retail sales data but the euro remained under pressure following a European

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

2. INTERNATIONAL CURRENCY BUZZ
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Forex-Euro sharply lower after SNB abandons cap, cuts rates.
Forex-NZD/USD rises but upside seen limited
Forex-Pound slides lower vs. stronger dollar.
GBP/USD
GBP/USD hit 1.5201 during European morning trade, the session low; the pair subsequently consolidated at 1.5187,
shedding 0.31%.The dollar regained some ground after falling broadly on Wednesday when a report showed the
largest drop in U.S. retail sales in 11 months in December.Official data showed that U.S. retail sales fell 0.9% last
month after rising 0.4% in November.Separately, sentiment on the pound remained vulnerable after data on
Tuesday showed that the annual rate of consumer inflation in the U.K. slowed to 0.5% last month from 1.0% in
November. Consumer prices were unchanged from a month earlier, compared to expectations for an uptick of
0.1%.The slowdown in inflation underlined expectations that the Bank of England will keep interest rates on hold
at record lows for most of this year.
EUR/USD
EUR/USD dipped 0.11% to 1.1773, not far from Wednesday’s nine-year lows of 1.1726, and off Wednesday’s highs
of 1.1845.The dollar weakened across the board after official figures showed that U.S. retail sales fell 0.9% last
month, the largest decline since last January after rising 0.4% in November.The euro remained under pressure after
an interim ruling by the European Court of Justice on Wednesday was seen as clearing the way for the European
Central Bank to implement quantitative easing measures at its upcoming meeting on January 22.The advocate
general of the European Court of Justice, Pedro Cruz Villalon, advised judges to approve the ECB's Outright
Monetary Transactions program, a measure which was launched in 2012.

3. DAILY ECONOMIC DATA
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4. YOUR MINTVISORY Call us at +91-731-6642300
INTRADAY OUTLOOK
Support: 1.5204
Resistance: 1.5278
RECOMMENDATION:
1. Buy GBP/USD Above 1.5280-TG: 1.5300/1.5330 SL 1.5250
2. Sell GBP/USD Below 1.5202-TG: 1.5182/1.5152 SL 1.5232
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: 1.1659
Immediate Resistance: 1.1726
RECOMMENDATION:
1. Buy EUR/USD Above -1.1728 TG: 1.1748/1.1778 SL 1.1698
2. Sell EUR/USD Below -1.1657 TG:1.1637/1.1607 SL 1.1687

6. DISCLAIMER
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