EPIC RESEARCH REPORT DAILY INTERNATIONAL FOREX

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28-FEB-2014

INTERNATIONAL CURRENCY BUZZ

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➔ Forex - Euro off lows against dollar as Yellen testimony eyed➔ Forex - Dollar off lows vs. yen after U.S. durables data➔ Forex - Euro remains lower after German CP slows

EUR/GBP➔ Euro is expected to decline after Spanish GDP missed expectations but this was offset by a positive jobs report

from Germany. Sterling was the best performing major currency of the second half of 2013 and it has extended that run this year, based on speculation that an improving economy may prompt the Bank of England to raise interest rates early in 2015.

USD/CAD➔ Traders will be watching closely US and Canadian data due later in the day. Although U.S. new-home sales

on Wednesday surprised to the upside with a jump of 9.6% in January, most recent U.S. economic data have disappointed investors, some of whom are hoping the Fed might consider keeping its monetary policy easy for a longer period of time. However Yellen, like many of her peers, may “downplay the reports, attributing the weakness to temporary factors”, which should boost the dollar.

DAILY ECONOMIC DATA

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EPIC'S ANALYST SPEAKS

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NZD/USD Hourly Chart

INTRADAY OUTLOOKSupport: 0.8305 Resistance: 0.8395

RECOMMENDATION: 1. Buy NZD/USD Above 0.8395- TG: 0.8415/ 0.8450 SL 0.83602. Sell NZD/USD Below 0.8305- TG: 0.8280/ 0.8245 SL 0.8430

EPIC'S ANALYST SPEAKS

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USD/JPY Hourly Chart

INTRADAY OUTLOOKImmediate Support: 101.65Immediate Resistance: 102.25

RECOMMENDATION: 1. Buy USD/JPY Above 102.25- TG: 102.45/102.75 SL 101.902. Sell USD/JPY Below 101.65- TG: 101.45/101.15 SL 102.00

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