The document is a daily forex research report from Epic Research that includes: 1) International currency buzz and commentary on movements in the dollar, NZD, and GBP. 2) Analysis of the GBP/USD and EUR/USD currency pairs, including charts and intraday outlook. 3) Disclaimer stating the information should be treated as a factor when making investment decisions and the company is not responsible for any losses from the recommendations.

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

2. INTERNATIONAL CURRENCY BUZZ
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Forex-Dollar lower against yen after BoJ holds.
Forex-NZD/USD rises off 2-week lows despite weak N.Z. inflation data.
Forex-GBP/USD falls despite U.K. jobs data, BoE minutes weigh.
GBP/USD
GBP/USD hit 1.5076 during European morning trade, the session low; the pair subsequently consolidated at 1.5106,
shedding 0.25%.In a report, the U.K. Office for National Statistics said that the rate of unemployment dipped to
5.8% in the three months to November from 6.0% in the previous three month-period and better than
expectations for a reading of 5.9%.The report also showed that the claimant count fell by 29,700 last month,
compared to expectations for a decline of 25,000 people. November’s figure was revised to a drop of 29,600 people
from a previously reported decline of 26,900.Data also showed that the average earnings index rose 1.7% in the
three months to November, meeting forecasts, after increasing by 1.4% in the three months to October.Excluding
bonuses, wages rose by 1.8% in the three months to November, below expectations for a gain of 1.9% and
following a 1.6% increase in the three months to October.
EUR/USD
EUR/USD at 1.1563, not far from Friday’s 11-year trough of 1.1459 as investors waited to see if the European
Central Bank would embark on an outright quantitative easing program on Thursday.The single currency has been
pressured lower by mounting expectations that the ECB will launch a government bond-buying program, in a bid
to stave off the threat of deflation in the euro area.Uncertainty over the outcome of Greek elections, due to be held
on Sunday, with anti-bailout party Syriza leading in the polls also weighed.The U.S. dollar index, which measures
the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.30% to 93.07.

3. DAILY ECONOMIC DATA
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INTRADAY OUTLOOK
Support: 1.5081
Resistance: 1.5143
RECOMMENDATION:
1. Buy GBP/USD Above 1.5145-TG: 1.5165/1.5195 SL 1.5115
2. Sell GBP/USD Below 1.5078-TG: 1.5058/1.5028 SL 1.5108
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: 1.1539
Immediate Resistance: 1.1591
RECOMMENDATION:
1. Buy EUR/USD Above -1.1593 TG: 1.1613/1.1643 SL 1.1563
2. Sell EUR/USD Below -1.1536 TG:1.1516/1.1486 SL 1.1566

6. DISCLAIMER
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