Vicious speculations flooded the market in the European session China will cut its interest rate (RRR) at 04:15. EUR/USD violated some hefty stops as it topped 1.2984 but the bullish momentum may soon fade as forex traders are considering to dismiss the speculation of an imminent rate cut. The news provider (Dow Jones wire) that said to have reported the forthcoming RRR cut by the People's Bank of China (PBOC) are denying the news at the time of this writing, what a day!!
EUR/USD Intraday Analysis
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