Monday May 17, 2010 - 15:20:23 GMT
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SNAP GVI Forex Professional Trader Forex Survey Results- 17 May 2010
May 17 (global-view.com) The consensus outlook on where the EURUSD will close on Friday, May 21 in Europe was less uniform than it has been in recent weeks. The responses on the pair favored little net change over the week with the vast majority looking for a close between 1.2200 and 1.2400. Only one saw it higher and a few saw it lower. The dominant factor expected to influence trade in the EURUSD has become less Greece than it has been, as worries have evolved more broadly to Europe. A few cited consolidation trade as likely behavior this week. The highly selective group of professional forex traders were polled by global-view.com on Sunday May 16 and early-Monday May 17.
The distribution of responses to the USDJPY outlook has become more concentrated. They mostly favor a stable USD/JPY (91.00 to 93.00). Others tended to favor a Friday European close of 94.00 to 95.00. Many were focused on reserve flows out of the EUR into the JPY. The relative performance of U.S. shares was cited as well. Others are watching entries and exits from risk trades.
Global-View.com cautions that this survey is a snapshot of current sentiment and that forex market sentiment tends to be 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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