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EURUSD Surges 300+ Pips on ECB Rate Cut and Extended QE Program

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 3, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    EURUSD, Daily The ECB cut the deposit rate by 10 basis points to -0.3% from -0.2%, while leaving the key refinance rate unchanged. European stock markets have sold off in the wake of Draghi’s disappointing measures since the central bank’s cut in the deposit rate was less than anticipated and the widening of QE purchases not as aggressive as the markets would anticipate. At the time of this writing, the EUR trades above the 1.08 level, up nearly 280 pips for the session; most of the market was

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