1. EPIC RESEARCH REPORT
DAILY INTERNATIONAL FOREX
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02-MAY-2014

2. INTERNATIONAL CURRENCY BUZZ
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➔ Forex - Dollar little changed vs. yen after U.S. data
➔ Forex - Euro pares gains against dollar
➔ Forex - Pound hits fresh multi-year highs vs. dollar after UK data
GBP/USD
➔ GBP/USD touched highs of 1.6922, the most since August 2009, and was last up 0.21% to 1.6906. The pair had
been trading at 1.6839 ahead of the data.Cable was likely to find support at 1.6868, the session low and resistance
at 1.7000.Sterling rallied after Markit reported that its U.K. manufacturing purchasing managers’ index rose to
57.3 last month from 55.8 in March. Analysts had expected the manufacturing PMI to decline to 55.4.Growth
increased across the sector, as firms reported a rise in new orders, and new product launches. Manufacturers also
took on more staff, with employment rising for the twelfth consecutive month.Rob Dobson, Markit's senior
economist, said manufacturing output growth had accelerated to "a level among the highest signaled over the past
two decades".
EUR/USD
➔ EUR/USD was last trading at 1.3874, after rising as high as 1.3889 earlier, the strongest level since April 11.The
pair was likely to find support at 1.3825 and resistance at 1.3900.The dollar remained on the back foot after data
on Wednesday showed that the U.S. economy expanded at an annual rate of just gross domestic product grew at
an annual rate of 0.1% in the first quarter, well below forecasts for an expansion of 1.2%.Despite the sharp
slowdown in growth the Federal Reserve said Wednesday it would reduce its bond purchases to $45 billion a
month, in a widely expected decision. The Fed also said interest rates would remain on hold at record lows for a
"considerable time" after the bond-buying program ends later this 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: 1.6860
Resistance: 1.6900
RECOMMENDATION:
1. Buy GBP/USD Above 1.6900- TG: 1.6920/ 1.6950 SL 1.6870
2. Sell GBP/USD Below 1.6860- TG: 1.6840/ 1.6810 SL 1.6890

5. EPIC'S ANALYST SPEAKS
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EUR/USD Hourly Chart
INTRADAY OUTLOOK
Immediate Support: 1.3850
Immediate Resistance: 1.3890
RECOMMENDATION:
1. Buy EUR/USD Above 1.3890- TG: 1.3910/1.3940 SL 1.3860
2. Sell EUR/USD Below 1.3840- TG: 1.3720/1.3790 SL 1.3870

6. DISCLAIMER
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