by S. Wade Hansen We saw some changes on the PFX COT Sentiment Indicators today. Check out the changes here: http://www.pfxglobal.com/follow-the-forex-pros-cot-learning-group/cot-strategy-update-july-18-2008.html REVIEW: 18 JULY 2008 The Japanese yen (JPY) continued to lose ground today as the VIX kept falling and Wall Street was able to fend off a large, profit-taking sell off today. While the NASDAQ didn't fare too well because of Microsoft's and Google's poor earnings reports, the financial sector---the sector everyone has been most worried about---continued to be "not as bad" as most had anticipated. Carry traders are rejoicing as both the GBP/JPY and the EUR/JPY look like they have a chance to continue moving higher. Falling commodity prices continued to weigh on the commodity currencies today. However, many of the commodity charts appear to be reaching support levels. PREVIEW: 21 JULY 2008 Next week is going to be a crucial one for the U.S. dollar (USD). With the U.S. Dollar Index hovering just below support, it appears to be at a tipping point. If U.S. corporations can continue to impress Wall Street with better-than-expected earnings, and the price of oil and other commodities can continue to decline, the USD may be able to find some new strength. If earnings fail to impress and the price of oil shoots back up, the USD could continue to lose ground, and we may see the EUR/USD attempt to reach new highs and the AUD/USD move ever closer to parity. As far as economic announcement go for Sunday and Monday, it's going to be a rather light two days. Keep your eye on the following: - AUD Producers' Price Index (PPI) --- Sunday - CHF Producers' Price Index (PPI) Keep profiting with forex. | 
