Stock Market Tumble

Yesterdays EURJPY did not break it's resistance and therefore I did not get triggered into a trade. I have cancelled that order now and may well look to see for a downside opportunity.

The US equities market took a heavy fall yeaterday. Those that trade in stocks should watch for signs of continuations here. Stop adjustments might need to be considered depending on today's news outcomes.

Today we have some major things going on so right now i am out of the market until I get a better understanding and have digested the news.

What to watch for:

Interest rate statements from UK and Eur (BoE expected to keep rates on hold)

Canada's Housing Starts

US Unemployment Claims

President Trichet and President Bernanke

With all the above we will probably see movement in the currency and equities market today. I would suggest to all of you (as easy as it is to fall in to this trap) but do not gamble and second guess here, wait for the news and base your decisions on facts. For me, to remove emotions, I wait a good while (not just a few minutes) after the facts have come out then analyze before entering the markets.

All the best for today, good luck and have an emotion free trading day.

FXCPS Team.