Date : 14th January 2015 EURUSD DROPS BELOW 1.1747 WHILE ECB CONTINUES TO DISCUSS THE QE PROGRAM. US RETAIL SALES DATA DUE TODAY. EURUSD dropped yesterday and closed at 1.1771. Data released yesterday showed that the German Wholesale Price Index dropped 1.0 percent on a monthly basis in December. On the other hand the Industrial Production in Italy rose 0.3 percent on a monthly basis in November beating the market expectations of a 0.1 percent rise. In the United States the NFIB Small Business Index rose to a level of 100.4 in December. Another report revealed that the JOLTS Job Openings advanced to a reading of 4.97M in November. The World Bank increased the economic growth forecast for the United States to 3.2 percent from 3.0 percent projected earlier, while downgrading the Eurozone economic growth forecast to 1.1 percent from the 1.8 percent projected earlier. Investors are now looking forward for the Retail Sales data due to be released from the United States later today. Support for the EURUSD is seen at 1.1734 and resistance is seen at 1.1870. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.