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AnderL

07/29/08 11:39 PM

#1621 RE: AnderL #1620

EURUSD and USDJPY will be important tonight. Moneyflow into the US has been pretty high over the last couple weeks. The EURUSD reversed course and has been selling off the last 12 days an USDJPY has run up from a interm low for 10. That means money flow into the US.

Both are coming up against long term support/resistance zones over the next few days, so that spigot might come to a trickle for a short time once they bounce. You can also see it in the POG (Gold) and POO (Oil) sold off for the last 11 days. So money has been leaving those commodities to support US banks.

So this should confirm some slow down in global money flow and might get traders to consider backing off some of their trades and taking profits.