EUR keeps consolidating awaiting the meeting of ECB which will be held on March 6th. Statistics regarding retail inflation yesterday showed that that it did not increase as well as inflation for producers, which was published last week and stopped the further increase of European currency even though there were a lot weak statistics from the US. Rapid decrease of general retail index for 1,7% increases the probability that Mario Draghi will announce about new stimulating measures in order to prevent Euro Zone facing deflation trap like Japan had at the end of the last century.
Euro currency will rapidly decrease against all the major currencies if ECB goes for it. But by now it is most likely that EURUSD will be traded at 1,3700-70.
