Possible ECB QE details leaked

WSJ broke the news, followed by Bloomberg and Reuters:

"A proposal from the European Central Bank’s Frankfurt-based executive board calls for bond purchases of roughly €50 billion ($58 billion) per month that would last for a minimum of one year, according to people familiar with the matter.
The ECB’s executive board met Tuesday to decide on the proposal, which will form the basis of deliberations by the entire 25-member governing council on Thursday. The final number and details could change after the full board weighs in on the plan.
Still, the executive board’s proposal indicates that the ECB could move more aggressively than financial markets have expected. Forecasts among analysts have recently centered on a figure of around €500 billion or higher for a quantitative-easing program, but the executive board’s proposal suggests that bond purchases could amount to at least €600 billion.
An ECB spokesman declined to comment."

EUR/USD 4hr chart showing the initial buy reaction to the leak and then it settled back but momentum is to the upside ahead of the official announcement. It could be a fake out. Who knows?