Monday May 10, 2010 - 15:36:43 GMT
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SNAP GVI Forex Professional Trader Forex Survey Results- 10 May 2010
SNAP GVI Forex Professional Trader Forex Survey
May 10 (global-view.com) In the global-view latest weekly survey of professional trader sentiment, responses remained mostly bearish on the EURUSD pair. The vast majority were looking for a close to the week between 1.2700 and 1.3000. The dominant factor expected to influence trade in the EURUSD was developments out of Europe related to the bailout package announced overnight. Most were skeptical about whether the program would work. A highly select group of professional forex traders were polled by global-view.com on Sunday May 9 and early-Monday May 10.
The distribution of USDJPY responses was once again much broader than in the EURUSD. They mostly favor a stronger USD/JPY. Responses favoring a close of 92.00 to 94.00, and those for above 94.00 were about even. Many were focused again on interest rate differentials between the U.S. and Japan. Some also mentioned the importance of equity prices and interest rate differentials this week.
Global-View.com cautions that this survey is a snapshot of current sentiment and that forex market sentiment is dynamic. This means that forex market sentiment will evolve over time.
GVI Forex is a private subscription service of Global-view.com. GVI Forex posters are limited to experienced traders. The service is open for viewing by traders of all levels of experience. This weekly sentiment poll is conducted on Mondays for the close of that week and is intended for forex trading. The focus of this sentiment snapshot is on expected directional movements in the EURUSD and USDJPY pairs and on what factors are currently in play for the select group of fund managers and institutional and private traders invited to participate.
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