Tax Reform is Likely and ECB is Continuing the Current Policy…

U.S. equities traded flat despite the higher likelihood of tax reform and the ECB continuing their economic stimulus. The U.S. dollar benefitted significantly from the ECB’s decision and we are looking to add to our long U.S. dollar positions.

The EUR/USD broke through support after the ECB indicated they would be continuing their stimulus. We expect a small bounce and we are going to short this pair on a test of the support level that was just breached.

The full version of this article appears in the ShadowTraderPro FX Trader newsletter which is a currency-only service designed for foreign exchange traders, overseen by ShadowTrader’s Senior Currency Strategist, Blake Young.

The newsletter stands alone as either a purely informational vehicle for those who like to find and trade their own FX setups, or a daily resource for trade ideas. Each day’s edition includes a technical workup on specific currency pair setups, full market commentary on major pairs, a heads up on worldwide economic data, along with a selection of the most relevant daily news items that have effect on the currency markets. The newsletter is sent out at night assuring that users have ample time to digest the information regardless of how early they get up!

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