ECB Day, Range on Indices, Good Morning Trading

Since the beginning of the week we are clearly in a tidy which is drawing very well.

Be careful though, today at 1:45 p.m. we have the decision on the rates of the ECB which should cause some volatility. Especially since the European indices are at the bottom of the range, which is always an acrobatic position.

Faced with this, caution is in order. Any position in European markets before the ECB decision is the equivalent of Russian roulette or casino. The day will really start at 3:30 p.m. with the opening of the American markets.

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The psychological climate of investors is: “half fig half grape”. The passage of the 10-year US rate above 3% is not done to reassure investors that they are not taking risks. I remind you that next Wednesday we will have the decisions of the FOMC. And these are really fundamental, they are much more important than the decisions of the ECB.

In this context, it is difficult to take long-term positions, scalping and the day trading are back in fashion.

Good Morning Trading of the day

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I wish you an excellent trading day, caution and fun,

Cordially,

Benoist Rousseau

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